Enertopia Corp. (OTCMKTS:ENRT) Keeps Buying Alive with PR
Enertopia Corp. (OTCMKTS:ENRT) is at least good in one thing, timely self- promotion. So the March 11th PR comes in just on time to revive the upward momentum for this stock. ENRT ended flat, but managed to keep the robust buying volumes. The ticker is now at $0.60 cents, on dollar volumes above $625,000. Those are relatively small volumes for a hot new MMJ stock, and ENRT is a wait-and-see position, for those who seek companies that try to cash in on the Canadian market for legalized cannabis. 
The short-term problem for ENRT would be the staleness of its PR campaign, as most news and expectations may be already consumed, and as buying may give way to corrective selling. As for fundamental qualities, ENRT stacks up quite well, with:
- $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
ENRT claims to have some existing medical marijuana operations, and the new partner, Lexaria Corp. (OTCMKTS:LXRP) is joining in to benefit from the partnership. No wonder then that the graph of LXRP very much resembles that of a newly uncovered MMJ stock.
Still, ENRT has the benefit of being a part of the Marijuana index, and at these price levels stacks up as a relatively respectable company. Now, it remains to be seen how the next few quarters reveal the real financial results of medical cannabis sales. On the negative side, ENRT is for now just reiterating past developments.
If we track the MMJ index for some indication on where all the hype is going, it is easily seen that some of the very strong days are already in the past, as the index neared $70 in mid-February. Now, the value of the index is back around $36, with small gains in the past days. The index has swung to dizzying ranges, between a 52-week low of $0.65 and a height above $69.
ENRT looks more prepared for the medical cannabis activities, and in this it resembles TerraTech Corp. (OTCBB:TRTC), a stronger mover that was already experienced with greenhouse growing. TRTC stagnated for a while, but took off again and in the past few days managed to reach a temporary peak at $1.25 as buying volumes strengthened.
If you decide that ENRT has a further upward potential, keep in mind that in the past weeks, previously strong climbers managed to stagnate or slide down. A respectable price position is no guarantee that a ticker won’t lose on faltering confidence, as the general enthusiasm of the industry gets old. Also, be aware of the even riskier profile of LXRP and companies that switch business identities very suddenly.
