Gold Coast Mining, Co. (OTCMKTS:GDSM) Roars Forward Again on Monday’s Optimism
Gold Coast Mining, Co. (OTCMKTS:GDSM) is moving forward in growth bursts, usually as the new week opens with optimism. On Monday, GDSM grew by more than 154% to $0.0033, on buying volumes above $2.32 million.
GDSM keeps up investors’ interest by a reiteration of its future intentions to move away from its former plans of gold prospecting. Now, GDSM is doling out incomplete details of its plans to create a Colorado-based subsidiary and make use of the liberalized cannabis market.
What is strange is that GDSM would be planning a business venture with Gelpid, a private company that is also a judgment holder against Gold Coast Mining. In fact, the entity that GDSM plans to create will serve to provide Gelpid with further development of its marijuana business, if it desires to do so.
Gelpid has minor fame for its consulting manager, Chris Chiari, who ran as a Democrat candidate for the state of Houston in 2006 and 2008, unsuccessfully. While Gelpid is a private holding company, it may well try to gain public access as an OTC marijuana ticker, given that Chris Chiari is a vocal advocate of marijuana, and even linked to the King of Quality site and Facebook pages, with more than 10 thousand followers, dealing with topics of recreational or medical cannabis.
Time will show if this connection proves hot enough for GDSM, but for now the ticker is underpriced enough to invite buying and improve its positions. In the past, there have been enough examples of double and even triple-zero marijuana stocks gaining toward a price of a few pennies. For now, GDSM does not have the extra boost of an email promotion, whether paid or free, but it lines up among the more actively traded selections.
Now, GDSM also expects to update users on its plans to purchase and operate oil and gas wells as a revenue-generating activity, but it is indeed the mention of a cannabis link that plays an even bigger role.
Another company that switched business modes in the recent days is Vega Biofuels, Inc. (OTCMKTS:VGPR). The announcement was close in time to the earnings report, so VGPR continued its meteoric rise to ten times its value in a few days. On Monday, the ticker retreated from $0.0045 to $0.0037, as the trend was fast and took a breather. Now, it is a question of how long the gains survive, and if VGPR won’t return to a depressed price.
Fortitude Group, Inc. (OTCMKTS:FRTD) also grew its price ten times as it announced the purchase of a medical cannabis subsidiary, even being ready with a MariMist product through a partnership with MariMedical Pharmaceuticals. FRTD currently stands at$0.026, and only a couple of weeks back started around $0.002.
If you still like GDSM, keep in mind that the company is rather sensitive to spikes in publicity, and depends on the high-profile marijuana hype to keep its gains. But at this low price, hanging onto gains is quite difficult, and most tickers end up being merely a flash in a pan. If you still like GDSM at these positions, it is best to be able to absorb the losses when they inevitably happen.