Media Technics Corp. (OTCMKTS:MEDT) Returns with Promotion, As Marijuana Stock

As the new week opens, a new batch of marijuana tickers has arrived, and among them another LED lights producer, Media Technics Corp. (OTCMKTS:MEDT). Like many before, MEDT was barely traded until it took off on a mix of promotional emails and a press release, of course mentioning the company was intending to supply cannabis growers with greenhouse lights. Though MEDT has been moving up in the last days, volumes became truly impressive on Friday, reaching a record at above 200 million shares, or $734,000.

MEDT now stands at $0.0025, after being stuck at triple-zero positions. In the past weeks, several similarly underpriced tickers increased their activity, with various degrees of success in keeping up the gains.

The promotional email for MEDT comes from Lions of Wall Street, and is already old- dated back to January 14th. Still, the mention somehow fueled the rising trend, and the pumper used MEDT to improve its past record, as the message was sent without a special compensation. A week later, the company issued a PR outlining its change in management and future possibilities as a “pick-and-shovel” supplier of other marijuana companies.

Of course, for MEDT it would be a hard competition as already enough companies offer various styles of hydroponics supplies. Unfortunately, in the case of MEDT there are no audited filings with the SEC, and not even self-reporting on the OTC profile page. So there is no way to know if the company has had any fruitful activities in the past. Another red flag is that MEDT is on its fourth identity, and in the years since 1995 has changed names and business descriptions, including financial services. Also, MEDT is describing its business as a production of environmentally friendly computers systems, so there is little indication that it specializes in LED systems in particular.

Now, MEDT promises its new CEO, Jeremy Carr would supervise the review of past financial statements and information would be posted to the OTC page soon. Also, MEDT is yet to announce the joint venture with R-Quest Hydroponic, a producer of digital climate control systems for greenhouses. It is claimed that R-Quest received an order for 100 such systems, worth $249,000, but the details of the order are still not disclosed. A big drawback is that the product is nothing unique, with many hardware or software options available for controlling greenhouse environments.

Investors’ forums hold that MEDT is a promising ticker that may rise above one cent and turn into multiple pennies, and there are also expectations that the new week would open with further publicity or promotions. Still, MEDT is in that place where corrections are often significant.

Older stock offers of greenhouse companies were among the most active choices on the OTC markets. Terra Tech Corp. (OTCBB:TRTC) is keeping up the pace for now, with small retreats, and stands at $0.50.

GreenGro Technologies, Inc. (OTCMKTS:GRNH) is stagnant for now at 43 cents, though it started off at a humble position of two cents at the beginning of the year.

In the case of MEDT, it is too early to say how well the ticker would perform, but for now there are indications the exuberance may spill over into the new week. Still, avoid being caught in the upside swing if you cannot also afford a significant correction.