Latteno Food Corp. (OTCMKTS:LATF) Bases Business in Colorado, Aims for One-Cent Levels and More

Latteno Food Corp. (OTCMKTS:LATF) always starts to look interesting when it approaches the penny level- so far elusive, as profit-taking drags down this underpriced marijuana company every time it tries to break out. On Thursday, LATF added more than 36 % to $0.009, on buying volumes of $4.32 million.

True, in the past month LATF is moving in a general upward direction, but it is becoming unnervingly slow, adding factions of a penny, just when it looks like it may break the one-cent barrier any time. Thursday’s gain is the strongest in a week, and follows a press release with corporate updates.

Now, LATF will be based in what looks like the Cannabis Capital of the world, Colorado Springs, Colorado, to capture more opportunities for its growing business. Also, LATF plans on divesting side assets and focusing solely on the marijuana business. LATF also thinks of planting a foothold in the state of Washington, to make the best of the next wave of recreational use legalization. LATF increases its range of cannabis edibles, and hosts a website to gather user-submitted recipes, so while the ticker is underpriced, its activity looks more concentrated and more viable.

Investors are expecting the company would now really take off, to at least two cents, after a long time in a rather depressed position. LATF is now rather considered undervalued, and a breakout is expected, along with healthy revenues, if the company posts financials on time. The only worry around investors’ forums is the doubt that LATF is not showing enough clear evidence of its subsidiaries, especially Mekonza Corp., supposedly an importer of sea foods that generates significant income streams.

While we wait, there are enough tickers that at least in their price range and behavior resemble LATF. One of them is Intelligent Living, Inc. (OTCMKTS:ILIV), a health products company. ILIV is currently around $0.006 after a rather fast climbing trend in the past month. Of course, the spark was ignited after ILIV announced it would be adding medical cannabis to its range of health supplements, and it would be lending IT support to the cannabis sector, through its mobile applications.

Other sub-penny selections are already declining after a fast upward spike. HPC POS Systems, Corp. (OTCMKTS:HPCS) expanded from one to six cents, only to return to $0.0028 on a few days in the red.

If you still like LATF, keep in mind that there is no guarantee about the penny-level price, and even then setbacks are quite probable. In the days leading up to the revenues announcement, LATF could gather more attention than usual. In the past, the ticker has fared best during periods thick with press releases, where it could present itself as an extremely promising company. But until LATF proves itself better, it is advisable to stay away or avoid overinvesting.