Fusion Pharm, Inc. (OTCMKTS:FSPM) Dragged Down by Partner’s Suspension
Fusion Pharm, Inc. (OTCMKTS:FSPM) suffered the second-biggest loss as a member of the Marijuana index. The ticker sank into the red with a daily total of 21.76% to $3.56, on dollar volumes above $30.5 million. FSPM still keeps a respectable price, but it suffered through a period of losses. Now, with the suspension of one of the leading MMJ tickers and general pessimism, even this price position is uncertain for FSPM. 
The biggest loser in the index was Advanced Cannabis Solutions, Inc. (OTCMKTS:CANN), which sank by more than 38 % to $18. CANN also re-settled to a lower range after a few days of suspended trading. The losses are affecting both the respectable price positions and the sub-penny speculative selections. The Marijuana index poses as an industry summary with a daily net loss of 8.63%.
FSPM has not tried to support its price with new PR, at least not since March 27th. For now, the exposure through the MMJ index gives a regular boost, never letting the trading levels slacken completely. Yet compared to February, the last months are markedly devoted to selling, and the amount of shares shed this Thursday was the biggest in about a month.
So far, we let FSPM drift by, as other MMJ tickers offered more drama- but it is notable that investors are more actively leaving even this relatively solid position. Perhaps the easiest explanation is that the partnership of FSPM with Growlife, Inc. (OTCBB:PHOT) is starting to backfire, as the trading in PHOT was suspended to protect investors.
FSPM is also one of those companies that aim to provide growing technologies for the legal cannabis sector. Its product, cargo containers transformed into hydroponics greenhouses, has been shown to investors. But none of that matters since the fallout in the sector began. This is despite the fact that FSPM is in the process of fulfilling an order for the Canadian market, worth $270,000.
In the end, we can’t know how the bottom line will be affected unless FSPM decides to update its financial data according to requirements. For now, there is not even a CIK number, so no chance of SEC filings. Outside the company’s own publicity and promises, signs of success would be rare and tentative.
The upcoming weekend and the new week will answer some questions in the short term, but also set new problems. Critical analysts believed even at the peak of the boom that the MMJ sector would deflate- not immediately, but almost certainly within 12 months. So choosing any ticker at a relatively low price would not be a guarantee for a recovery and immediate gains.
FSPM still has the chance for some good days, especially with fresh statements or an update to report according to OTC standards. But if you are still looking for an MMJ portfolio, be aware of the potential for the bubble prices to settle to more reasonable levels.
