RightSmile, Inc. (OTCMKTS:RIGH) Soars Again Despite Skull and Crossbones
After spending the last few months quietly scraping the absolute bottom of the barrel at $0.0001, January and the marijuana craze that came with it sent RightSmile, Inc. (OTCMKTS:RIGH) into heavy volume trading and on a volatile price run. Having already crashed once, yesterday RIGH had another green run and closed 62% up on heavy volume.
It seems these days just about any company can attract attention and resurrect its flatlined share price so long as it is in any way related to marijuana. RIGH is a company that seems to currently operate as BG Medical Technologies, even though the name change has not yet taken place and the ticker corresponds to the RightSmile, Inc. name. The pink sheet company is currently stamped with the ‘buyer beware’ skull and crossbones on OTCMarkets.com. Its most current report available through the OTC’s disclosure service dates back to September 2012, or nearly 18 months back.
In a filing from mid-2012, RIGH announced a reverse merger with a BG Medical Technologies, Inc. that took place in January of the same year. Even though the company said it ‘intends’ to change its name and ticker symbol, this seems to have never happened. To top that off, one quarterly filing later RIGH stopped disclosing information through the OTC and went completely under the radar. The company has also maintained a stony silence on the press release front for over a year, even though one might think it would be prudent to inform shareholders of plans and goings-on, especially in light of the revived trading volume and price action in early 2014.
Traders, obviously unfazed by the fact that they’re flying blind with RIGH, bought up a total of one billion shares yesterday. If the entry price is low enough, it would seem, eager pot investors will jump on just about any ticker, no matter how little current information they have.
In yesterday’s session the rest of the marijuana sector was on fire as well. Medical Marijuana, Inc. (OTCMKTS:MJNA) bounced back in the green after a collateral press release helped stabilize the slipping price. Hemp, Inc. (OTCMKTS:HEMP) remained the volume leader of the pack, topping the most heavily traded OTC chart and closing another 14% up, at $0.299 per share.
