MediSwipe, Inc. (OTCMKTS:MWIP) Tries to Boost The Hype
The stock of MediSwipe, Inc. (OTCMKTS:MWIP) has certainly enjoyed the positive effects of the massive marijuana hype-wave that is still affecting the markets. Thanks to it at the start of the year MWIP was able to surge from less than 15 cents per share to $0.56 in just three sessions. The problem is that left on its own the stock starts to quickly wipe all the gains it has made dropping down to a low of $0.19 during Tuesday’s session.
Still the added attention resulted in a jump of more than 31% during yesterday’s session when MWIP closed at $0.37. The positive momentum seems to be holding on and in early trading today the stock is further 5% up.
With the recently announced financing agreement with a private equity firm MWIP will have access to a total of $1.1 million over the next 6 months enabling them to move forward with the commercialization of their Mont Blunt Vaporizers. But another product of theirs is causing some confusion among investors.
Back in August 2013 MWIP entered into a two year licensing agreement with Chill Drinks LLC for the hemp based energy drink CHILLO and the hemp tea C+ Swiss. Yesterday though another pennystock company – Dewmar International BMC, Inc. (OTCMKTS:DEWM) announced that they have also entered into a licensing agreement with Chill Drinks LLC for the C+ SWISS drink. If MWIP will release a press article regarding the situation remains to be seen.
As most marijuana plays MWIP is extremely volatile thanks to the massive interest in the industry. Any trades should be exercised with caution and only after doing your own due diligence.
Today after the start of the session both Growlife, Inc. (OTCBB:PHOT) and Medical Marijuana, Inc. (OTCMKTS:MJNA) are going down. PHOT is sitting 2% in the red at $0.342 while MJNA is trading for $0.287 per share.
