Totally Hemp Crazy (OTCMKTS:THCZ)’s Slide Turns Ugly
Totally Hemp Crazy (OTCMKTS:THCZ) had been drifting gently down in the last few sessions, falling just 3.28% in yesterday’s session, but by the look of today’s red opening, the ticker may be in big trouble before the week is out.
It would be safe to assume that THCZ‘s latest jump was purely hype-driven. Judging by its PR, the company has had some success in its Amazon.com, Inc. (NASDAQ:AMZN) related ventures lately – which is not something many of its competitors can claim.
Unfortunately, there isn’t much in the way of substantial evidence suggesting that its progress is significant enough to warrant its rapid climbs up the charts.
This, more or less means that said jumps are hype-based – and as we all know, hype can afford some measure of volatility, but has a tendency to dissipate rather quickly. And once that happens the charts usually turn ugly – much in the way they are now turning red for THCZ.
In the early days of the marijuana rush of 2014, we saw that this effect could be counter-acted by a barrage of press releases. However, as pointed out by JournalTranscript and StocksnTrade, there haven’t been any news on the company in a while. This turn of events can account for THCZ‘s current crash.
Note well that this is not to say that the company has completely lost its volatility or viability as a trading or investment opportunity. It just means that investors should be doubly careful of the developments surrounding the company.