Totally Hemp Crazy (OTCMKTS:THCZ) Stumbles Once More
Yesterday took Totally Hemp Crazy (OTCMKTS:THCZ) 10.25% down the charts, and judging by today’s violent red start, this trading session may well end up bringing more of the same.
And, truth be told, it wouldn’t be all that surprising if THCZ‘s crash not only continued, but accelerated. Why?
A look at the company’s latest financial report reveals the following unimpressive figures:
- Cash – $523 thousand
- Current Assets – $724 thousand
- Current Liabilities – $1.2 million
- Quarterly Revenue – $68 thosuand
- Quarterly Gross profit – $21 thousand
- Quarterly Net loss – $345 thousand
True, THCZ has made some progress that needs to be acknowledged. The company’s Amazon.com, Inc. (NASDAQ:AMZN)-related endeavors and the contract it has signed with Dr. Pepper’s bottler in Oklahoma are certainly steps in the right direction.
However, those achievements can’t possibly justify THCZ‘s current market cap of $90 MILLION. That’s just over the top – even by OTC Markets’ exceedingly lax standards.
Which is why it isn’t at all surprising to see the company’s price per share corrected as it is now.
