Vape Holdings (OTCMKTS:VAPE) Bounces At Last
It seems that all the talk that President Obama is about to nominate known marijuana legalization proponent Vanita Gupta for Assistant Attorney General has finally had its effect on Vape Holdings (OTCMKTS:VAPE). Yesterday the company’s stock prices jumped an astounding 30.12%, giving many investors hope for an even better show in the upcoming days.
And a change of peace is certainly what VAPE enthusiasts desperately need, if they are to remain loyl to the company. As the charts indicate, VAPE had been slipping for the whole of October before yesterday’s session finally ended the red streak decisively. But will VAPE‘s much anticipated bounce bounce last?
At this point in time, it looks quite possible that it won’t. After all, the company’s financials aren’t that great. In its latest quarterly report, VAPE disclosed:
- Cash – $73 thousand
- Total current assets – $527 thousand
- Total current liabilities $740 thousand
- Revenue – $362 thousand
- Net loss – $1.3 million
Further, the whole marijuana stock sector in general, and VAPE in particular, has reason to worry now that the SEC seems to have once again decided to take a closer look at the affairs of suspicious companies. Marijuana stock enthusiasts should probably keep that in mind, and know that they’re treading on thin ice with VAPE. After all, we all know what happens when a company is found lacking by the SEC.
Another OTC Markets marijuana penny stock that had an unexpected surge lately is Medical Marijuana Inc. (OTCMKTS:MJNA).
