mCig, Inc. (OTCBB:MCIG) Bucks the Trend at the Peak
The slow and sure climb of mCig, Inc. (OTCBB:MCIG) ended with a dramatic drop, wiping out more than 41% to pull the ticker down to $0.09, on selling volumes of above $450,000. MCIG came back under a new name and ticker and started its slow recovery from the summer months. Then, MCIG spiked on a widespread promotion, but went on to unravel in the following weeks. Back in August, MCIG still ran as Lifetech Industries. 
Luckily, the new climb was calmer, and happened without a promotion. The ticker added more than 50% since November, and still has juice, opening upward on the January 2nd trading. 
MCIG may be hoping to ride the trend as an addition to a group of companies producing and distributing electronic cigarettes. But while other tickers offer an exposure to well-developed businesses, MCIG just now started with a novel product featuring herbal electronic cigarettes.
For starters, there are the financial statements, containing:
- $13, 809 cash
- $81,144 total current liabilities
- $13,180 revenues
- $19,873 net loss for the quarter to October 31, 2013
While MCIG has a low-key activity, there is much to be desired to justify the market cap of above $24 million. The company is loaded with more than 270 million shares outstanding, which with daily trading just around 3-4 million shares might mean that the ticker is vulnerable to sways from insider transactions and other large holdings awaiting in the sidelines.
MCIG may be ready with a product, the mCig 2.0, and shipping should start with the new year. MCIG announced it was accepting orders already, and lining up customers.
Vapor, Corp. (OTCBB:VPCO) peaked in December, just below the $10 levels. The ticker was much desired for the solidity of the company and the promise of a wide distribution. Now, VPCO has to show if it would be able to hold onto the new levels. The new price is boosted to those respectable levels after a 5-for-one reverse split.
Victory Electronic Cigarettes, Corp. (OTCMKTS:ECIG) is hovering around the $11 levels, flat despite the attempt to become the leading ticker in this sector.
MCIG will offer opportunities for tracking in the following weeks, and boosters from PR messages may prop up the share price. While MCIG has a longer-term potential, it is best to avoid investing unaffordable sums, unless you can afford losses like the recent one, or deeper.
