A little more than 3 months ago, we caught the run when the penny stock of DigiPath Corp (DIGP) had entered into their 3 trading session and exploded for gains of over 450% within just a couple of hours. Since then, shares of DIGP stock have been one of the worst performers on the OTC, dropping -96.43% since that tremendous session in July after setting a new 52 week low yesterday at 0.092. With news out today that the Company’s subsidiary, The National Marijuana News, has just released its special midterm election edition of its popular, unbiased cannabis news program, should traders expect to see the share price get even cheaper or is this finally the turnaround point everyone has been waiting for?
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DIGP Stock Quote
Since the run on marijuana stocks that began at Christmas last year and ended shortly after the end of Q1, 2014, companies dealing in the cannabis industry, real or fake, have had a rough 7 months. Digipath got into the game way too late, March, and didn’t make a move worth noting until July when shares of DIGP stock jogged up from 0.16 to as high as $6, a 3,650% gain.
Since July 28th, DIGP stock has been an absolute pig, rolling down the charts like a cob of corn down a hill while making an oink oink sound as it bumped its way down to 0.092 yesterday. The reason for the drop in share price stems directly from the $5,600,000 of preferred stock and $2,210,000 (44,200,000 shares) of common stock sold during the 9 months ended June 30, 2014. While it’s said the more than $8 million was raised so that Digipath could finance its digital pathology solutions, cannabis education curriculum development, and to explore new lines of cannabis businesses, the damage done to DIGP stock over the last 3 months may not be recoverable.
The latest news that a segment hosting Todd Denkin and Jen Gentile discussing the current political and economic climate of the American cannabis industry with Medical Marijuana 411 cofounder Sam Sabzehzar, Marijuana Policy Project director Karen O’ Keefe, and former international cannabis smuggler and Hemp Inc. founder Bruce Perlowin is about as exciting as finding a wet leaf on the hood of your car before leaving the house this morning. Since it’s likely that DIGP stock is going to keep on keeping on what it’s doing, waiting for the bottom to finally drop out and test the 0.05 range is where most investors are targeting unless MJ stocks suddenly get revived in the mid-term elections next week..
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About DIGP Stock
DigiPath, Inc. and its subsidiaries, is a digital laboratory provider within the human and animal testing markets which recently expanded into the laboratory education & training and cannabis testing markets.
Issued and Outstanding: 51,246,400
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