Latteno Foods, Inc. (OTCMKTS:LATF): Next in Line for Takeoff
Latteno Foods, Inc. (OTCMKTS:LATF) had its highs and lows, but finally what looks like a chance for a breakthrough. The restaurant chain was an early adopter of the medical marijuana model, as it switched from a food supply company into a producer of cannabis edibles. Thus, LATF is the latest spiker, making the familiar pattern we’ve seen for all pot stocks in the past week. LATF grew by more than 54% to stand at $0.0017, moving out again of the triple-zero range. Dollar volumes were above $1.42 million. 
Now, the question is whether the ticker will manage to make a trend, or this will be just one of the usual rare good days for a rock-bottom priced stock. 
LATF has not been in active promotion since the summer, when it started a months-long slide to the lower range. Nor were the numerous press releases immediately effective- despite promises for funding. It was the general tide that finally lifted up LATF. So let’s see what it can count toward its credit as an individual company.
LATF is capped now at just $3 million, but with whooping 1.8 billion shares outstanding, and a further 4 billion authorized. So far, the company has not suggested a reverse split to improve that worrying share structure.
The latest news state that LATF is now a member of the National Cannabis Industry Association, and is still working on finding research partners and expanding its edibles product range. So far, LATF easily has a foothold within the sector. But the latest earnings announcements are still shaky:
- $1,000 cash
- $116,000 total current liabilities
- $267,000 revenues
- $47,000 annual net loss
Now, it remains to be seen if LATF improves dramatically over the next few months, and if this translates into a more respectable price range. LATF was susceptible to promotions, so let’s hope that the general investors’ interest is enough and disproportionate pumping is not required.
In a similar price range, Creative Edge Nutrition, Inc. (OTCMKTS:FITX) is doing quite well, hanging around a level of a few cents, rising more than 10 times since the beginning of the extremely successful week. FITX, however, was also slashed in half, as it peaked at 3 cents, only to be sold among many others on Thursday and reach $0.165.
Endocan Corp. (OTCMKTS:ENDO) is also a sharp mover, which however changes directions more often. ENDO reached a peak at 11 cents, only to slide back to 7 cents.
In the case of LATF, the sky is the limit if the company attempts more robust positions. Still, sharp corrections were shown to be a very near possibility, so avoid investing funds if you cannot afford to see them lose a third or a half in a single trading session.
