Medbox Inc (OTCMKTS:MDBX) Can’t Seem To Find Bottom

[[tagnumber 0]][[tagnumber 1]]This year has been a disaster for Medbox Inc (OTCMKTS:MDBX) and its shareholders so far. The stock went from being traded at more than $6 per share in January to the point where it seems it might drop below the 10 cent mark.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The descent has intensified in the past month in which we saw [[tagnumber 6]]MDBX[[tagnumber 7]] record a single session in the green. By the end of the month the volumes also showed that more and more people are either trying to get away while they can or some investors are beginning to heavily short [[tagnumber 6]]MDBX,[[tagnumber 7]] or both.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It couldn’t go any other way. Those of you who have been following [[tagnumber 6]]MDBX[[tagnumber 7]] would know about the problems with revenue recognition that led to a SEC investigation, a federal grand jury and SEC subpoenas for the company and a restatement of several of the company’s financial reports.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The discrepancies in said reports were enormous and they weren’t in favor of the company. Thus, the 97% loss that [[tagnumber 6]]MDBX’s[[tagnumber 7]] stock has endured since the beginning of the year has come as no surprise.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The first session of this month saw the ticker slide 10.16% down the charts and finish at $0.115. Some 1.76 million shares changed their owners, generating a daily dollar volume of $210 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session has been more favorable so far and we see [[tagnumber 6]]MDBX[[tagnumber 7]] 5.22% in the green as of the writing of this article. This, however, doesn’t mean that the descent is over, so you should be sure to do your due diligence and weigh out the risks before putting any money on the line. [[tagnumber 2]]