Monday in the Red for mCig, Inc. (OTCBB:MCIG)
It is not unusual for mCig, Inc. (OTCMKTS:MCIG) to stage one of those minor downward trends, but this time, the pessimism looks a bit deeper. The otherwise stable climber slid down at the end of past week, and on Monday went on to lose 5% to $0.599. Selling was also unusually high, as the pressures increased and made investors shed shares worth more than $5.92 million. 
It is even stranger that despite the positive news, a lot of marijuana stocks show a tiredness and are slow to react with renewed buying. In the case of MCIG, the company boosted its publicity with a presentation of its e-cigarette product. The presentation for investors was posted on April 1st. 
And on Monday, a mainstream mention on CNN web TV was supposed to act in the positive- but perhaps only limited the slide. MCIG remains a part of the marijuana index, with a 2.73% weight, but the trading marker has been sinking, showing the general trend among previously bubbly companies.
In essence, the MCIG presentation serves as a self-promotion, and we have to wait and see if the e-cig company manages to recover as the new week is still young. Investors’ forums show readiness for optimism, so MCIG could still turn the tides to net buying and another climb in price. But the dollar levels did not come so easily, despite the solid business model.
MCIG is clearly ahead of smaller producers of electronic cigarettes, at least when it comes to the financial results:
- cash – $37 thousand
- current assets – $91 thosaund
- total current liabilities – $22 thousand
- revenues – $85 thousand
- net income – $10 thousand
We still don’t know if MCIG could become a robust supplier of the legal cannabis sector. Moreover, MCIG is planning to build alcoholic vaporizers for alternative consumption of spirits- a strange, ambitious project that will somehow have to make use of the company’s slim financial resources.
When it comes to electronic cigarettes and vaporizers, the stock price movements usually reveal quite an enthusiasm. Yet March proved a difficult month for other similar companies.
Vapor Brands Int’l Inc. (OTCMKTS:VAPR) held on at $0.18 after a long downward slide. The ticker is far from its peak at $0.40, which it reached easily in a few days of unusual buying. But this was followed by a slow deflating trend.
Vape Holdings, Inc. (OTCMKTS:VAPE) bet on a reverse split, to conquer the markets by a more respectable price position. But even in this case, the company sank down by 50% from a recent peak at $30, not being able to keep the post-split prices.
If you still hope for a rebounce with MCIG, at least the trading volumes are robust enough that an exit is easier. But don’t rely too much on the enthusiasm to continue providing MCIG with limitless climbing opportunities.
