Is Mentor Capital, Inc. (OTCMKTS:MNTR) Gonna Get It
Mentor Capital, Inc. (OTCMKTS:MNTR) exploded after it announced that it will be funding HempCon, Inc., who would receive $7 million from MNTR investors. This led the company stock from virtually non-trading and still to a massive 759% jump on January 17.
The message boards were filled with people going crazy about the stock and at first it seemed like no one out there had an idea of what exactly is happening. Well, there is one recent post on iHub that clears thing quite good and has even received a sticky note.
Some user sent an email to HempCon, Inc. with a link to MNTR‘s press release, asking if they can confirm the information what it contained. The reply was as simple as it can get. The returned message was simply “Deny”
When the post was made, the stock started to slide down immediately and lost quite a lot of the value it had gained. On January 22, the ticker lost some 11% of its value and we saw a decreased interest in the company stock, expressed by the low volume.
Yesterday, the correction was more serious and MNTR dropped another 27% of in price on a low volume. We saw a total of 233 thousand shares switch hands during the day, that generated $358 thousand in dollar volume.
The company is trying to keep the hype up and is issuing new press releases, but they are literally just an overview of the medical marijuana industry and the gains some of the stocks have made since the beginning of the year.
We don’t see any definitive news about the operations of MNTR and it all just seems like they want to attract the investor attention again. If the post on iHub turns out to be the real deal and not some manipulation and SEC decide to look into the matter it can become pretty ugly, pretty fast.
In any case, don’t rush in, buying, before you have done your due diligence and you’ve weighed out the risks.
Growlife, Inc. (OTCBB:PHOT) on the other hand switched the course and closed green 2 sessions in a row. Medical Marijuana, Inc. (OTCMKTS:MJNA) is also doing good and added 18.94% to its value with so much traded shares that it registered $21 million in dollar volume yesterday.
