Triton Distribution Systems, Inc. (OTCMKTS:TTDZ) Conquers New Heights
Momentum behind the stock of Triton Distribution Systems, Inc. (OTCMKTS:TTDZ) is holding strong and the company has nearly tripled its price in less than two weeks. The company has posted only two sessions in the red out of the last eight. Yesterday the climb continued with full force and TTDZ surged by 27% and at the time of the closing bell were sitting at $0.0357. During the trading hours the company posted its new 52-week high of $0.0385.
This time around the positive movement was not bases solely on speculations after the company issued its rather substantial PR article last Saturday. In it investors learned that after the takeover by Green Cures, Inc and the switch towards the marijuana industry the next steps will be a name and ticker change that should take place in the next 15 days. The new name of the company will be Green Cures and Botanical Distribution, Inc.
The new management has decided to increase the authorized shares to 2.5 billion while the 1.9 billion outstanding shares will be decreased by 300 million as part of the takeover deal. Further boost to the generally positive sentiment among investors was the news that the site allbotanical.com is going to launch around April 14 and should offer around 10 products of the Green Magic line. Furthermore TTDZ has filed for another trademark registration of “CBD Centers”.
TTDZ is certainly starting to progress with its business plan and the recently announced appointments of officers and directors sound promising but investors should not forget that the company is still in a very initial stage. No actual products have been revealed while at the same time the annual report for 2013 was not filed in the required period. In Wednesday’s PR the company said that they will try to file the report on April 11 which should at least help them remove the “OTC Pink no information” sign from their OTCMarkets profile.
Many of the pennystocks that decided to join the marijuana industry in the past few months are moving up the charts on nothing but overly-optimistic promises. For now TTDZ have not indulged in projecting millions and millions in revenues but they are an extremely risky choice nonetheless. Doing your own due diligence is paramount when attempting trades with any of the marijuana pennystocks,
Yesterday the stock of Fortitude Group Inc. (OTCMKTS:FRTD) also had a strong session and recovered most of Wednesday’s losses. It surged by close to 29% returning to 4 cents per share. Primco Management, Inc. (OTCBB:PMCM) on the other hand slashed 10% of their price and dropped down to $0.005. They also failed to submit their annual report on time and now investors will have to wait two more weeks. 