Montalvo Spirits Inc (OTCBB:TQLA) Failing Despite Optimistic PR
Montalvo Spirits Inc (OTCBB:TQLA) have been trying hard in the alcohol business, but their stock isn’t doing rather well. This is also evident this week. Monday’s session was not very promising and the red candles that followed were predictable due to the lack of definitive news.
After the ticker barely moved at the start of the week it all turned sour. TQLA‘s stock price is dropping each day since Monday and the volumes at which it is making its descent are increasing. In Tuesday the company’s stock didn’t trade with high volume and they closed below their average with 274 thousand traded shares and a loss of 7.32% in value.
Yesterday’s session went even worse. The company lost 15.22% from its value and the volume of traded stock went above TQLA‘s average of 309 thousand shares, with a total of 508 thousand switching hands at the end of the day. The trade value that was generated by all these trades came at $316 thousand.
The latest press release from this morning didn’t help them much and the huge amounts of stock that were traded in the first minutes of the session are pushing the price further down. In a little over an hour the price fell 14.53% and TQLA‘s stock is currently being sold at $0.50 per share. The total amount of traded shares at this moment is 287 thousand and it seems that the volume may beat yesterday’s by a lot.
Indeed the company has some revenue, but the $28 thousand that they had for the fiscal year ended March 31 are just dwarfed by the $1.6 million in net loss. The $23 thousand that the company has in the back aren’t looking pretty in the shadow of the $714 they have in total liabilities either.
All in all TQLA remain a risky investment choice for the moment so be sure to do a lot of due diligence and weigh out the risks if you are thinking of buying in the low.
On the other hand the descent of Medical Marijuana Inc. (OTCMKTS:MJNA) came to a halt yesterday as the stock barely moved. They managed to close the day with a price of $0.159 and a volume that was well below the one from the previous sessions with only 2.8 million traded shares and a trade value of $456 thousand.
Growlife Inc. (OTCBB:PHOT), however, didn’t fare that well as they lost a further 5.75 % from their value and closed the day at $0.0377 with quite a bit in volume. The 9.1 million shares that were traded shares generated $358 in trade value. The company didn’t start today’s session well either, as they are currently 9.81% down in high volumes.
