{"id":6245,"date":"2015-07-14T14:15:37","date_gmt":"2015-07-14T14:15:37","guid":{"rendered":"\/?p=6245"},"modified":"2015-07-14T14:39:41","modified_gmt":"2015-07-14T14:39:41","slug":"medbox-inc-otcmktsmdbx-wipes-50-in-three-sessions","status":"publish","type":"post","link":"\/articles\/medbox-inc-otcmktsmdbx-wipes-50-in-three-sessions\/","title":{"rendered":"Medbox Inc (OTCMKTS:MDBX) Wipes 50% in Three Sessions"},"content":{"rendered":"\n

It almost looked like Medbox Inc (OTCMKTS:MDBX<\/a>) was making some sort of mystery comeback for a short while. However, traders’ hopes were dashed by a red streak that very nearly wiped any progress the stock made up the chart after narrowly avoiding a close at a dime per share.<\/p>\n

On Friday MDBX<\/a> dropped another 18% to reach a close at $0.13. Volume is still well above the monthly average, as the excitement around the three-day pop is still in the process of dying down. The short-lived push gave nimble traders with a high tolerance for risk an opportunity to make a quick buck.<\/p>\n

In a recent announcement MDBX<\/a> informed the public that it was parting ways with former CEO and board member Guy Marsala, whose position at the helm is now taken by Jeff Goh. Mr. Marsala received a notable severance package, consisting of 16 monthly payments of $30,000 and a grant of options to purchase up to $335 thousand worth of MDBX<\/a> stock priced, curiously, at the lowest close MDBX<\/a> registered over the past two years.<\/p>\n

The fact that former CEO Bruce Bedrick sold another 60,000 shares in a single chunk, right into the price pop last week, at $0.24 apiece, also does not inspire resounding confidence in the company’s future.<\/p>\n

Upon parting ways with MDBX<\/a>, Marsala noted he was “proud to have successfully led” the company through a rough patch. Naturally, it all depends on one’s definition of success but with his tenure as CEO starting in July 2014 and with MDBX<\/a> trading as high as $14 per share in Q3 of last year, then dropping from multiple dollars to nearly a dime in the first six months of 2015, how successful his leadership was is open to discussion.<\/p>\n

MDBX<\/a> clocked a very modest $41 thousand in Q1 revenues and net loss for the period was at $4.4 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

It almost looked like Medbox Inc (OTCMKTS:MDBX) was making some sort of mystery comeback for a short while. However, traders’ hopes were dashed by a red streak that very nearly wiped any progress the...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1192],"class_list":["post-6245","post","type-post","status-publish","format-standard","hentry","category-news","tag-mdbx"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6245"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6245\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}