Enertopia, Corp. (OTCMKTS:ENRT), Claiming a Strong Position as MMJ Stock
Enertopia, Corp. (OTCMKTS:ENRT) is yet another stock to find the OTC holy grail: a mix of corporate updates in the new year, added to an ongoing email promotion and the announcement of an entrance into the cannabis business. This made the ticker grow by about 400% since the beginning of the year, and the trend is picking up again after a brief correction. On Friday, ENRT added another 8% to its price, reaching $0.52, on dollar volumes above $985,000. 
The campaign for ENRT has been relatively cheap, with a total paid of $6,500 and eight emails. Some of the promoters used the ticker’s general momentum to boost their own records, and sent out free messages. The latest email is from Pennystockprophecy.com, on February 27th. Penny Dreamers received $1,500 for the email mentions, and Jet Life went with a higher fee of $3,000. Fabulous Penny also joined the pack.
Added to the hype, ENRT reveals some pretty amazing financials, making it look like one of the more solid selections of the pot stock sector. The latest 10-Q shows:
- $89,051 cash
- $165,844 total current assets
- $564,006 total current liabilities
- $149,409 net loss for the quarter ended November 2013
- $2.27 million net loss since inception
As it is easily seen, ENRT is hardly the shell company with empty coffers, though it still has to solidify its earnings position. The company also issued a round of financing in January, adding more than 12 million shares at $0.10 and more than six million warrants at $0.15 per share. With just 48 million shares outstanding and a 24-million share free float, ENRT is somehow vulnerable to selling at the right positions, as insiders would have an incentive with the higher market price.
ENRT claims it would continue to acquire MMJ assets, and strive for good positions on the Canadian market. All of this, at least in the short term, supplies ENRT with enough letters-of-understanding and updates on partnerships to help the stock along.
ENRT has all the signs of the more solid and preferred MMJ stocks, which rise on a momentum of stable interest and relative loyalty. It is no wonder, since ENRT is used in the making of the Marijuana index, an industry marker that not only lists the more preferred companies, but also gives extra exposure to the tickers.
Among the indexed companies, ENRT lines up in price range with the likes of mCig, Inc. (OTCBB:MCIG) which has now pulled back toward 68 cents. And Growlife, Inc. (OTCMKTS:GRNH), a previous fast mover, is keeping a relatively respectable position at 43 cents, though it also shows a long and worrying sideways drift in the past days.
ENRT looks promising, though it already showed in its graph how it could correct the strong gains, at least temporarily. The stock has been bought up actively in the past several days, so make sure you are ready to absorb losses if you decide to join in at the current peak.
