Totally Hemp Crazy (OTCMKTS:THCZ) Crashes In Spite OF Boasts
Totally Hemp Crazy (OTCMKTS:THCZ) lost another 7.71% of its market value yesterday, in spite of publishing yet another optimistic piece of PR just one day before that.
Said press release was boastful as usual, but unlike other times, on this occasion it was very unsuccessful in halting the ticker’s descent. Why?
Maybe investors got tired of hearing the same old unsubstantiated boasts about new and exciting distribution agreements over and over again.
Maybe investors failed to be impressed by THCZ‘s new partner PotNetwork Holdings Inc. (OTCMKTS:POTN), which upon closer examination of its filings, turns out to be yet another unimpressive pinksheets company that is managing to make ends meet so far, but is far from financially stable.
Maybe they are disappointed that yet another press release fails to mention how the company’s fabled record revenues translate into profit or loss.
Or, maybe the announcement just drew too much attention to the company, and more investors than usual decided to check on its filings and found the numbers inside displeasing:
- cash – $95 thousand
- current assets – $1 million
- current liabilities – $1.5 million
- annual revenues – $798 thousand
- annual net loss – $408 thousand
There is no real way to tell with absolute certainty what pushed the ticker this time around, but the result is clear – THCZ is once more on the dime threshold, and if one is to judge by the ticker’s apparent downward momentum, the company’s share prices may well drop below said threshold in today’s session.
