Endocan, Corp. (OTCMKTS:ENDO) Vies for Attention

Endocan, Corp. (OTCMKTS:ENDO) is yet another marijuana ticker that is seeing a revival in volumes in the past trading week. ENDO added more than 47%, which looks tame compared to the latest climbers, to stand at exactly nine cents, on record volumes of $1.08 million. At $0.09, ENDO is still underpriced enough to invite investors for a tryout. On Thursday, the ticker opened cautiously up, and may have enough momentum for the end of the week. ENDO0901.png

We are meeting ENDO for the first time, and the reason is that the otherwise obscure company is partnering with Cannabis Science, Inc. to build a new drug based on the potential of the cannabis plant. And with relentless hunger for new OTC climbers, ENDO looks cut and dried, at least in the short term. MCIG0901.png

The latest 10-Q from the summer reveals that firstly, ENDO was Xchange Corporation until November 2013, after which it deftly switched business models to what would become one of the greatest booms on the OTC markets. The old balance sheet and other data from the summer show that ENDO enters the game with the following:

  • $59 cash
  • $1.4 million total liabilities
  • $3.4 million annual net loss

This looks like the profile of a pharmaceutical company that has tried in earnest to produce a drug, and is now taking another chance in a new sector. And now, ENDO has gained access to the Canadian medical marijuana market, which gives hope that the group could quickly correct the dire financial situation. What is even more encouraging is that in the past, despite all the PR, ENDO has remained subdued, so now there is only a single factor working to boost the stock levels.

ENDO has shown that it can easily slide down a third, so beware the promise, as currently the ticker lines up as an underpriced offer in comparison to the sector staples.

In a similar price range, mCig, Inc. (OTCBB:MCIG) is having another series of slow, steady daily additions. MCIG was never as dramatic, but still has enough upward drive, reaching 15 cents, with longer-term potential.

If you are looking for a faster mover, Creative Edge Nutrition, Inc. (OTCMKTS:FITX) has broken out, reaching above 2 cents, still cheap enough for more fast daily gains.

In the next few days, we will be tracking both the staple stocks and the fast new movers. In the best case scenario, gains should be unprecedented, but be aware of your preferred time frame to cut the losses of tickers that buck the general trend.

You may also like...