Plandai Biotechnology, Inc. (OTCMKTS:PLPL) Tries to Reverse Its Trend
[[tagnumber 0]]After opening at the massive $2.55 at the first session of February, reaching an intraday high of $3.12 and shifting the all–time record of 10 million shares the stock of Plandai Biotechnology, Inc. (OTCMKTS:<a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=PLPL“>PLPL</a>) has been constantly losing positions. In fact it crashed on that very same day by more than 16%. Despite the predominantly negative trend <a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=PLPL“>PLPL</a> was able to keep its shares above the dollar mark which is an impressive feat considering that at the end of 2013 they were sitting at 20 cents. [[tagnumber 1]][[tagnumber 2]]On Tuesday they announced that stage 1 of their production facility in South Africa has been successfully completed. The facility should be completely ready to produce the Phytofare Catechin Complex at some point in April. The news marks a rather significant progress for the company and should have boosted enthusiasm among traders. Although since then <a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=PLPL“>PLPL</a> indeed logged in two sessions in the green, the gains have been quite timid. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]] On Tuesday the stock added 7% on 1.5 million traded shares and yesterday they closed just 5% up on nearly half the volume – 870 thousand shares. It seems that investors are reluctant to jump right back and with good reason. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]]<a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=PLPL“>PLPL</a> has been the target of numerous paid pumps for nearly a year now. The promotional efforts don‘t seem to have any intention of stopping and yesterday another round of email alerts were sent. This time the newsletter was Sizzling Stock Picks who got paid $12 000 for two–days of touting. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]]All the advertising and artificial hype may paint quite a bright future but <a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=PLPL“>PLPL</a>‘s own financial report shows a rather different picture. At December 31, 2013 they had:[[tagnumber 3]] [[tagnumber 1]] [[tagnumber 14]] [[tagnumber 15]]$131 thousand cash[[tagnumber 16]] [[tagnumber 15]]$142 thousand total current assets[[tagnumber 16]] [[tagnumber 15]]$2.6 million total current liabilities[[tagnumber 16]] [[tagnumber 15]]$13 thousand revenues[[tagnumber 16]] [[tagnumber 15]]$3.3 million net loss[[tagnumber 16]] [[tagnumber 25]] [[tagnumber 3]] [[tagnumber 1]]Be sure to do your own due diligence and don‘t take anything said by the pumpers at face value. <a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=PLPL“>PLPL</a> has been talking profusely about its branding deal with Diego Pellicer, Inc, but for now their involvement with the marijuana industry has not moved past that – talking about it. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]][[tagnumber 31]]After closing at an all–time high of 77 cents per share the stock of Growlife, Inc. (OTCBB:<a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=PHOT“>PHOT</a>) has started to correct. Yesterday it wiped another 11% of its value and dropped to $0.603. In early trading today it opened lower at $0.59 but is trying to recover and at the moment is sitting at $0.620. On the other hand Medical Marijuana, Inc. (OTCMKTS:<a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=MJNA“>MJNA</a>) struggled at the open and currently is nearly 2% in the red at $0.32.[[tagnumber 3]]
