What started at the bottom over a month ago when we sent alerts out, the hottest penny stock on the OTC, Electronic Cigarettes International Group, Ltd. (ECIG), looks to keep the run going in advance of a reverse stock split due to come. One week ago, the supplier of various electric smoking devices voted to effectuate a reverse stock split of the Company’s outstanding common stock at an exchange ratio ranging between 1-for-5 and 1-for-20 and traders took advantage of the cheap priced shares, gaining over 100% from the start of last week. While we’re all still waiting for the Q4 and year-end results to be completed and filed, there isn’t much else out there to trade right now that isn’t ECIG stock.
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ECIG Stock Quote / Chart
Last 5 Trading Sessions:
When the week of March 9 began, all eyes were on StockTips’ new pick, TLPY with hopes that $10,000 in would yield $10,000 in profits after the initial dump which always comes from their picks. While the dump never really ended during the week, those who opted to go after ECIG instead saw the first session of the week end at 0.092, down -1.50%, after $2,190,444 was transacted (25,357,691 share volume).
From Tuesday onwards, gains just kept growing for ECIG shareholders despite news of a reverse split coming in the not-so-distant future. The reverse stock split of ECIG is a must if the Company is going to continue to expand through debt issuances. One of the more recent 8K filings, from February 26, 2015, detailed how the Company entered into a securities purchase agreement with an accredited investor to issue (1) 5% Original Issue Discount Convertible Promissory Notes and (2) warrants to purchase ECIG shares. Pursuant to the agreement, Electronic Cigarettes International issued (i) $3,157,895 principal amount of 12% Convertible Notes and (ii) 28,456,257 Warrants for gross proceeds of $3,000,000 before deducting expenses.
The month of March began with resignations from William R. Fields, Marc Hardgrove, Charles L. Jarvie, Howard Lefkowitz and Tim McClure, effective upon receipt of such notice by the Company. The move coincides with the consistent, increased volume which has now topped 40 million on four separate occasions over the last 20 trading sessions.
For those who bought into ECIG off our alert over a month ago, they’re all singing the same tune:
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About ECIG Stock
Electronic Cigarettes International Group (ECIG) is dedicated to providing a compelling alternative to traditional cigarettes for the more than 1 billion current smokers around the world. ECIG is a fast growing independent electronic cigarette company, and owns the trademarks VAPESTICK®, FIN®, Victory®, VIP®, and others. The Company owns multiple subsidiary companies and has operations in North America and Western Europe. ECIG offers consumers a full product portfolio that incorporates product quality and the latest technology.
14200 Ironwood Drive
Grand Rapids, MI 49534
Phone: (616) 384-3272
Issued and Outstanding: 82,798,282
Ending last week with $8,138,311 traded, 3,512 trades (the top traded ticker on the OTC), there is one penny stock that has been in full control of the OTC this month and the ticker symbol is ECIG. There are plays here and there that last 30-40 minutes at most, but as long as the better than 25 million share volume can continue with ECIG stock, swings between .10 and .20 are going to continue to be the focus of those who have yet to abandon the OTC Markets for double digit gains
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