SK3 Group, Inc. (OTCMKTS:SKTO) Still Sliding Down
The stock of SK3 Group, Inc. (OTCMKTS:SKTO) got just a little bit of the attention that other stocks in the medical marijuana sector got after the first sale of marijuana for recreational use in Colorade, but still managed to have 1 big 159% jump that led it above $0.020 per share.
Since then, however, it has been struggling to keep that price and we saw it slide below than come back up again. It even reached as high as $0.0224 in the first session of last week, but the following days weren’t so rosy.
What followed were 4 red sessions on volumes that were near the ticker’s average. The lack of press releases is also likely to have contributed to SKTO‘s movement in that direction and considering the fact that the hype around the medical marijuana sector has become weaker the future doesn’t seem bright.
Despite the discouraging performance of SKTO lately, the investor forums are still buzzing and the discussion is getting heated up with every minute. So heated in fact, that the admins have had to issue warnings for bans, suspensions or restrictions to calm down the crowd that is cursing at each other daily.
For now, it seems that SKTO‘s thread is the most heated one from all the other companies in the business that are going through a tough period lately, like Growlife, Inc. (OTCBB:PHOT), Medical Marijuana, Inc. (OTCMKTS:MJNA) and Cannabis Science, Inc. (OTCMKTS:CBIS).
The probable reason for that is the fact that SKTO has made quite a lot in revenues in 2013, but still can’t collect them, as we mentioned in our previous article and some of the payments are overdue by more than 180 days.
Still, the run that all of the companies in the sector had was mainly due to the first legal sale of recreational marijuana in Colorado, so be sure to do your due diligence and weigh out the risks.