Quasar Aerospace Industries, Inc. (OTCMKTS:QASP) Regains Losses
The stock of Quasar Aerospace Industries, Inc. (OTCMKTS:QASP) was moving through triple-zero land for quite a long time until it was announced that they will pursue profitability in the medical cannabis sector on Monday this week.
The stock then burst out into trading in the double zeros for the first time since July, 2013. The daily dollar volumes that rarely reached above $10 thousand also increased significantly and went over the $1 million mark.
It seems that the medical marijuana sector is attracting more and more companies that want to bathe in the profits that it can offer. What do airplanes have to do with cannabis, however? Yes, you guessed it – absolutely nothing else than sending you flying high.
Furthermore, every small cap company branching in the business has a thing for mentioning the predicted $600 profits for 2014 in Colorado’s green revolution. However, the people reaching out for a piece of the pie have gotten way too many by now and it is getting hard to predict who will make it.
Literally every day we see at least a few companies that try to get a chunk from the medical marijuana hype and most of the times they succeed for a certain period of time, generating profits for the insiders that dump shares for their own enrichment.
Most of these companies don’t even have an idea about what exactly they want to do – grow, distribute or provide services like logistics or security. This is another case of that type of a company. QASP‘s latest press release announces that Mrs. Donnell Vigil, the company’s President, plans to meet with “contacts” in Colorado to pursue “opportunities in the MJ market”.
And yes, QASP‘s stock managed to gain 28% yesterday and close at $0.0018 on a record volume, obliterating the previous day’s losses. The massive 956 million shares that changed their owners through the session managed to generate some $1.9 million in trade value at that low PPS.
There still remains a high risk of corrections, however, so be sure to do your due diligence and weigh out the risks before making an investment decision.
Growlife, Inc. (OTCBB:PHOT) on the other hand, registered a session in the red, with a 6% loss. Medical Marijuana, Inc. (OTCMKTS:MJNA) has also been sliding lately and dropped another 5% in value.
