Marijuana Stocks | Medbox Inc. (MDBX) Finally Bounces

Anytime you see a stock slide from $6.95 to $0.10 during the course of 6 months, you’d either have to be high or dumb to think at any point during the dumpage that it’s a good time to buy.  In what almost seems like their contract to dump shares was terminated as of June 30, 2015, Medbox Inc. (MDBX), a declining revenue collector in the cannabis sector, has shown signs of improvement this month as shares of MDBX stock have now gained almost 200% from their lows last week.  While the false pretenses that there may be any snowballs chance in Florida that the PPS could return anywhere near where it was a month ago, let alone at the start of the year, odder occurrences have been witnessed when a ticker ends a session in the top 10 penny stocks traded list.

 

MDBX Chart

 

When MDBX first came on the scene, marijuana had just received the “YES” vote in Colorado and Washington State and the Company almost looked like it was a major player, reporting $1,314,178 in revenues for the three months ended September 30, 2013.  Since that quarter, Medbox has failed to record that amount in all of the subsequent quarters combined, yet, yesterday, $1,632,148, 6,551,254 shares off 1,269 trades, exchanged on MDBX with the total possible gain on a perfectly timed daytrade, 0.2405 to 0.295, 22.66%.

The losses had not only been adding up for those who were long MDBX at the start of the year when you see that during the most recent four quarters ended March 31, 2015, net losses were $(4,433,678), $(9,738,408), $(3,796,532), and $(1,347,784), respectfully.  Factor in the recent prospectus filing for the sale of 40,134,556 shares of MDBX so that those who bought convertible debentures can get paid, since positive cash flow is non-existent, and what you have with this recent bounce is a chance to get newbie buyers to pay debt holders for what will likely be an under-a-dime ticker by the end of the summer.

Medical dispensing system and medical vaporization devices are not working out for Medbox, regardless that Guy Marsala, 64, who joined Medbox in July 2014 to help guide the company through a corporate and financial transition period stated Monday that he was “proud to have successfully led Medbox through a challenging period.”  When sales dwindle down to those which can be compared to a Philippine sari-sari store in a province which has no paved roads, the pride of how poorly MDBX shares have performed this year leaves a large amount of space for interpretation as to if Medbox can really claim to be “a leader in the burgeoning cannabis industry.”

Despite the gains MDBX shares have posted thus far this month, many traders are gravitating towards the big board penny stocks which have been posting 5-10-15% gains on daily trades.  As we run our scanners every 10 minutes to see what’s popping, what’s dropping and what’s trending, here’s a few tickers that popped Tuesday that warrant some attention:

 

Ticker Market Cap Price Change SMA20 SMA50 52W Low RSI
VTG 59.15M 0.19 17.28% -27.91% -43.86% 25.58% 31.95
TRX 37.06M 0.35 6.55% 14.57% 6.71% 40.00% 63.32
TC 165.55M 0.75 9.20% -17.94% -29.24% 9.20% 32.12
XCO 254.39M 0.93 10.69% -34.00% -42.15% 19.23% 29.51
HK 656.24M 1.15 7.48% -4.92% -7.65% 13.86% 44.98
MHR 335.40M 1.61 8.05% 2.78% -8.32% 35.29% 48.46
CTCM 304.41M 1.95 5.98% -31.07% -39.08% 7.73% 20.48
CRK 110.21M 2.31 8.96% -33.26% -41.16% 9.48% 26.82
EXXI 228.50M 2.42 8.52% -20.76% -29.97% 17.48% 28.94
PLUG 440.56M 2.54 13.90% -1.22% -2.11% 17.05% 50.58
DSKX 49.96M 2.92 15.42% -15.23% 15.03% 421.43% 50.00

 

 

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