United Treatment Centers Inc (OTCMKTS:UTRM) Back on the Run

As you probably know (and as is pretty evident form the chart on the right), United Treatment Centers Inc (OTCMKTS:UTRM) first popped on investors’ radars back in February when they announced the reverse merger with PotNetwork420.

The press release came slap bang in the middle of the green rush that had taken over Pennyland and, not surprisingly, it sent UTRM into the stratosphere. In a matter of just a month and a half, the ticker managed to climb out of the triple-zero levels and on March 24, it reached its $0.0146 per share 52-week high.

Although UTRM insisted on calling PotNetwork “the CNN of the marijuana industry“, at the time, it was nothing more than “Just another WordPress site”. Despite this, investors were extremely excited and were waiting for the official launch which was supposed to take place on March 28.

Unfortunately, UTRM missed the deadline and apologized to their shareholders, saying that some unforeseen circumstances had prevented them from unveiling the internet portal on time. A new launch date was set for April 20 and, surprisingly or not, investors kept their cool.

There were a few red sessions, but the performance remained relatively steady (especially for a ticker that had just come out of the sub-penny levels) and with the new D-Day approaching, the volumes started to pick up.

This time, UTRM did manage to keep the deadline, but for some reason, investors didn’t seem too impressed with the new look. Truth be told, apart from a few videos covering various pot-related news, the changes to the website were not that big. It was a step in the right direction, but PotNetwork was still far from the CNN of the marijuana industry.

Chris Seminatore, UTRM‘s CEO said in a press release that there are still many things to be done and urged investors to stay tuned, but this time, they were having none of it. Out of the fourteen sessions between April 21 and May 8, only two ended in the green and the cumulative losses during that period amounted to a whopping 77%.

Yesterday, UTRM finally managed to bounce back up. Six and a half hours were enough for the ticker to shift more than $1.7 million worth of shares. The stock started climbing from the very beginning, it touched the $0.005 per share mark a few minutes before the closing bell, and finished the day at $0.0049.

There doesn’t seem to be an immediately obvious reason for yesterday’s jump, but people appear to be excited about the performance and reckon that this is just the start of another run in the right direction. Indeed, the latest press releases tell us that UTRM have signed a contract with a company called Neovix Inc which should allow them to use a clever piece of live streaming technology on their website. The joint efforts between UTRM and Neovix will be displayed on May 20 and it will be intriguing to see how they will affect PotNetwork.

Unfortunately, we’re still not sure if the proceeds coming from the media outlet will be enough for the company to survive in the long run. UTRM have talked at some considerable length about numerous other sources of revenues, but so far, no further developments have been announced. This means that the uncertainties around the future are still plentiful and it also means that every single move should be preceded by a lot of research and due diligence.

Integrated Cannabis (OTCMKTS:IGPK) is another OTC listed company that recently entered the marijuana industry. The ticker became the target of an $800 thousand promotional campaign which is being carried out by Stock Castle. As you can see, the pump is starting to take its toll on the stock. Yesterday, IGPK wiped out nearly 50% of its value while racking up a dollar volume of around $817 thousand.