Cannabis-Rx Inc. (OTCMKTS:CANA) Crumbles to Dust
Despite the promises of the various pumpers touting the stock of Cannabis-RX Inc. (OTCMKTS:CANA) the company was devastated during the first two days of the promotion. All those who believed the email alerts watched as CANA dropped by 12% and 10%, respectively as it closed Tuesday’s session at $0.086. Those losses turned out to be nothing more than mild corrections compared to yesterday’s disaster.
In early trading CANA showed some signs of life and managed to surge above the 1 dollar mark but it quickly lost its footing and plunged towards the bottom barely stopping at $0.49, or more than 42% lower than its previous close. During the trading hours the absolute record number of 5,4 million shares got dumped on the market. For comparison the average volume for CANA is 358 thousand shares or more than 15 times lower.
In our article from the start of the week we warned our readers that there were around 29.7 million free trading shares that were bought for just $0.0018 after the 1-for-110 forward split from July last year. We also pointed out that according to the disclaimer of the landing page touting CANA third parties owned large amounts of shares and were ready to sell them, which might explain yesterday’s drastic increase in volume.
When the pump is backed by such a vast budget, $1.8 million in CANA‘s case, it may be sustained for a prolonged period of time but for now it seems that the paid newsletters have gone silent. On Monday and Tuesday they were able to send around 24 email alerts but yesterday we received only 1 tout by smallcapinvestment1 for no disclosed compensation. At the same time Billionaire Stocks, who were the first to enter the promotion, and 900PercentStocks bagged the substantial sum of $300 000.
By now CANA has been able to wipe close to 4 dollars of its value in just three weeks. Even if the stock bounces thanks to its plans for real estate operations in the marijuana industry many of the people that bought in at the start of the month will find it hard to recover even some of their losses. That is why we always warn you to tread carefully around pumped stocks. Do your 
own due diligence and never base your decisions on hype alone.
own due diligence and never base your decisions on hype alone. The rest of the marijuana sector started to rally back up after nearly a week of heavy corrections caused by the suspension of Growlife, Inc. (OTCBB:PHOT). Primco Management, Inc. (OTCMKTS:PMCM) surged by 20% and found themselves back at $0.003 per share. Terra Tech Corp. (OTCMKTS:TRTC) also put a stop to its slide by adding more than 13% and closing at $0.715.
