Expanding mCig, Inc. (OTCMKTS:MCIG) Rises on Promise of Further Legalization
A very solid mover, mCig, Inc. (OTCMKTS:MCIG), has attracted the attention of general commenters of the marijuana sector, especially those expecting further legalization. Still, MCIG has not bent down for a correction, instead adding more than 23% on Wednesday to reach $0.65, and lined up among the best traded OTC tickers with dollar volumes of $5.08 million. 
MCIG is a pure-play producer of electronic cigarettes that would be appropriated for medical or recreational cannabis, which is of course the key behind the rise in the stock. MCIG started at five cents without significant shakedowns, and in the past week the climb accelerated even more. Now, investors’ forums even talk of the possibility for MCIG to continue even above $1.
While MCIG itself is so far going without its own PR, it could benefit from new laws in several states that in the near future may follow the models of Colorado or Washington. Also, the company is in the days leading up to its next financial report, and other fundamental updates are expected soon- about a spinoff of a specialized electronic cigarettes division VitaCig. The most enticing news would be the share dividend, where every MCIG share owned would be eligible for the receipt of a share from the new company. The new company would become independent in mid-April, and there are already rumors that this would give MCIG or the new entity the potential to rise to a higher-tier exchange.
But for now, without serious improvement, MCIG remains close to the financial picture of most marijuana companies. Until further improvement, the financial filings contain:
- $13 809 cash and total current assets
- $81 114 total liabilities
- $13 180 revenues
- $19 873 net loss
All of the above does not hinder the ongoing publicity for MCIG in social networks and forums, as there are enough materials, landing pages and sites to fuel investors’ interest. MCIG is largely present on Twitter, and enjoying positive marks for its steady climb.
Vape Holdings, Inc. (OTCMKTS:VAPE) is yet another proof of the promise of e-cig makers. Recently, the company announced it plans to acquire H.I.V.E Ceramics, with a plan to produce cannabis accessories through a cutting-edge technology. VAPE is the new ticker for PeopleString Corporation, and the reverse split helped the stock price upward to its current respectable levels of $34- but despite the high price, the climb continues just as amazingly.
The performance of both tickers tracks that of recently formed Marijuana Index, which contains most actively traded tickers at all price positions. The index contains the most familiar names of the marijuana sector, and those in turn benefit from the publicity and higher trading volumes.
Vapor Brands Int’l, Inc. (OTCMKTS:VAPR) is riding the same business model, but its stock is more stagnant, drifting sideways in the last few days, around the 30-cent levels. VAPR already has an e-cig product, but it is less known and suffers from deflated volumes after the initial jump.
If you like MCIG or any of the Marijuana Index participants, keep in mind that deep corrections come for all company sizes, and no ticker is immune.
