Peoplestring, Corp. (OTCMKTS:PLPE) Rises Ahead of Reverse Split

Peoplestring, Corp. (OTCMKTS:PLPE) is becoming more and more interesting by the day, as it grew 16 times since the end of last year. PLPE added a further 60% on Monday, reaching 32 cents, as about $632,000 was poured into the stock. PLPE, a once-promising social network company, has sank with lower revenues, and now the current revival should show if it can return to the former potential. In 2010, a golden age for new social networks, PLPE achieved profitability, but since then both trading and results went downhill. PLPE0701.png

PLPE is not riding a promotional train, but it has something better- a reverse merger where it became the OTC vehicle for a medical cannabis company. And so PLPE is still partaking, with strong momentum, in the general enthusiasm of another round of the dot-bong bubble, as it is known. MCIG0701.png

What is worrying is that PLPE moved from one bubble industry to another, so the scenario may repeat- but for the shorter term, PLPE shows significant momentum. Investors’ forums are wildly optimistic, and now PLPE will have to show how it will perform after a 40-for-1 reverse split, which will take it to a more respectable price range, along with a new name- Vape Holdings. While the company still does not announce updated financial data, previous quarters show subdued activity and not an extraordinary amount of debt.

PLPE will also have the boost of a potential uplisting, an exposure to promising investors. The new player in the cannabis sector also equipped itself with a fine leadership, the former head of Growlife, Inc. (OTCMKTS:PHOT) Kyle Tracey.

As for Vape Holdings, the entity brings in the following financial positives and drawbacks:

  • $568 in total assets
  • $341 in liabilities
  • no revenue
  • a quarterly net loss of around $125 thousand

Just like other tickers surrounding the cannabis sector, PLPE will have to do two things- keep investors, interested, and in the longer term, prove its competitiveness with its product range.

PLPE may meet the competition of mCig, Inc. (OTCBB:MCIG), another producer of electronic cigarettes fitted to serve medical or recreational marijuana use. MCIG also had a long run in November and December, downshifted for a while, but continued the climb anew, toward the 13-cent level.

The sky is the limit for the sector, and in general related stocks face extraordinary upward momentum. Still, it is best to be aware that individual selections hold their own risk, so estimate well the preferred time frame for PLPE, and make sure you can afford a potential setback.

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