A Bad Period for MediSwipe, Inc. (OTCMKTS:MWIP)
The stock of MediSwipe, Inc. (OTCMKTS:MWIP) is going through a tough period. After the late-August press release that announced shares owned by one of MWIP‘s subsidiaries, 800 Commerce Inc. will be distributed as dividend among shareholders and the stock recorded several days in the green it turned sour.
The past month didn’t go well for MWIP, as the ticker recorded a lot more sessions in the red than usual. Their chart isn’t a sight for sore eyes, but this month is going even worse, as the stock seems to be gathering momentum in a downward direction.
The total loss that MWIP has recorded since its peak in late-August amounts to 45% and recently most of their sessions are ending with dollar volumes of below $100 thousand. Even though the percentile movements are small, the general direction in which the stock is headed is firm and we saw bigger losses in the last 2 sessions.
After losing 5.68% in value on Tuesday, MWIP slid down a further 11.17% yesterday on the highest volume it has recorded in more than a month. There was a peak in volume right after 10:00 AM, when more than 1 million shares were traded. This caused a dip, but the ticker managed to regain some of its value, only to continue slowly descending further down the intraday chart.
MWIP‘s closing price was $0.031 and the amount of shares that switched hands in the session was estimated at 7.7 million and helped generate a trade value of $246 thousand, the highest since September 3.
The stock of MWIP is very hard to predict, because it is continuing its descent even with the optimistic press releases of the business expanding. It seems that the only thing that can save the ticker is a decent Q3 report, because we reckon that the recorded loss of over $3 million in their latest statement at the background of a mere $38 thousand revenue was quite dissapointing for investors and is a strong reason for the ticker to go down.
On the positive side of things MWIP hasn’t gone through the paid promotion treatment recently, which is a good sign. In any case we would advise you to proceed with caution and do a lot of due diligence if you have your mind set on investing in this particular stock.
We see similar, unpredictable movements in some other stocks involved in the medical cannabis business like Hemp, Inc. (OTCMKTS:HEMP), who have also been recording sessions mainly in the red and their chart looks like something out of a stock exchange horror movie.
On the other hand Medical Marijuana, Inc. (OTCMKTS:MJNA), who is the most talked about medicinal marijuana ticker is going in a seemingly straight line, price-wise and is hovering around $0.15 per share.
