Totally Hemp Crazy (OTCMKTS:THCZ) Makes A Recovery
After two sessions of relative stability, Totally Hemp Crazy (OTCMKTS:THCZ) jumped 15.77% up the charts once more yesterday, in spite of the lack of meaningful developments around it.
To all outward appearances, there is no substantial cause for THCZ to surge now. The wave of hype generated by optimistic claims, that managed to pushed it up during its latest surge seems to have dissipated, and now there is once more nothing of substance to support the ticker.
In spite of the high hopes of its fervent supporters, the company’s financials don’t look like they can hold the ticker afloat:
- Cash – $95 thousand
- Current Assets – $1 million
- Current liabilities – $1.5 million
- Revenues – $730 thousand
- Net Loss – $39 thousand
While those figures are a definite improvement over the dreadful numbers given in the company’s previous filings, the only thing they really prove is that THCZ is not as idle as it once was.
If it keeps developing and growing at the pace it has set, the company may yet become profitable and create great long term value for its investors.
However, there is no way to be certain that this will happen any time soon, or if it could happen at all, for that matter. Only time will tell whether THCZ‘s commercial efforts will bear enough fruit to support it, or if it will wither as boastful OTC Markets pinksheets penny stocks tend to.
Naturally, this is not to say that there is no money to be made out of trading the ticker as it is. THCZ is still popular and volatile, and opportunistic investors could want to make use of that. However, they will need to be very careful and more than a bit lucky to actually make a profit here, as even the slightest error could prove disastrous.
