Totally Hemp Crazy (OTCMKTS:THCZ) Bounces Again
Totally Hemp Crazy (OTCMKTS:THCZ) managed to rise 13.44% yesterday as its descent turned into a bounce by yet another barrage of praising articles.
It would probably be safe to assume that the bounce that happened is largely due to the coverage provided to THCZ by MicroCapDaily, JournalTranscript and InvestorWired. The simultaneous, overly positive reviews from three separate popular commenters undoubtedly has a lot of pull.
Still, frequent positive coverage is no reason for investors to lose their edge with regard to THCZ. True enough, if the the company’s announcements are to be believed, THCZ has come a long way towards becoming profitable. If it can keep up the pace in selling its Rocky Mountain High energy drink through Amazon.com, Inc. (NASDAQ:AMZN) and succeeds in its plans involving Dr. Pepper’s bottler in Oklahoma, profitability may not be that far off.
However, these achievements don’t really remedy the fact that, as MicroCapDaily keeps repeating, “THCZ has minimal assets and revenues and growing short term debt”:
- Cash – $523 thousand
- Current Assets – $724 thousand
- Current Liabilities – $1.2 million
- Quarterly Revenue – $68 thousand
- Quarterly Gross profit – $21 thousand
- Quarterly Net loss – $345 thousand
In spite of this, THCZ‘s Market Value is currently $76 MILLION. This marks out the ticker as severely overbought, which in turn, means it is walking on very thin ice indeed.
Investors should really take care and think twice when considering all these facts.
