SK3 Group, Inc. (OTCMKTS:SKTO) Expanding Business
SK3 Group, Inc. (OTCMKTS:SKTO) managed to make a recovery last week, after the drop from the beginning of the month, and passed the $0.03 per share mark once again. The optimistic news keep coming and it all looks good for now, but anything can happen.
Last week the company announced that their Berkeley Bio Organic Research Laboratories subsidiary has developed the drug AlzatrexTM, which will help patients with Alzheimer’s disease and contains a COX-2 inhibitor that will prevent cannabis-induced memory problems from Δ9-THC.
It was also announced that they have completed the beta testing of their T-HydrocanTM RMC 40 tablets, further broadening SKTO‘s product portfolio. Yesterday, we were informed that the company has partnered up with a new distributor in Orange County, California, expanding their distribution network alongside their product range.
The constant optimistic news are a good sign and yesterday SKTO gained 18% on above average volumes, closing at $0.0354. The total amount of shares that were traded during the day came at 37 million and generated $1.2 million in dollar volume.
Furthermore, considering the financials of the company that we discussed in our previous article, the company’s book value is closer to its current market cap of $21 million than other ventures in the medical cannabis sector.
Still, there is room for error, because the industry is quite volatile, so be sure to do your due diligence and weigh out the risks before making an investment decision.
Growlife, Inc. (OTCBB:PHOT) also had a nice run recently, but it has started today’s session on a bad foot. Medical Marijuana, Inc. (OTCMKTS:MJNA) on the other hand might be on its way to close a third session in the red.
