Holy Friggin Smokes! The first time we even looked at the penny stock of MediSwipe, Inc. (OTC: MWIP) was on election day in November when marijuana was legalized in Washington and Colorado. Although it had already begun stretching its legs out since mid September with all the other “pot” stocks, MWIP stock has, like MJNA, gone Nucking Futs since. Gaining as much as 4,036% after setting a new high on January 8, Friday’s closing just .0003 from the HOD has even BarChart.com calling it a 100% Strong Buy after the Company recently announced plans for multiple medical dispensaries in the Detroit, Michigan area for medical marijuana patients.
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MWIP Stock Chart
Market Cap: 19.63M
Last: 0.0442 ▲ 0.0112 (33.94%)
Dollar Volume: $1,140,521
Issued and Outstanding: 444,167,878
14-Day Rel Strength: 76.70%
14-Day Stochastic: 98.29%
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Shares of MediSwipe have returned to the level, 10-for-1 stock split adjusted, they were trading at back in 2010 when the then Cannabis Medical Solutions, Inc. (CMSI) was on absolute fire. What the penny stock did not have then was legal legislation in two states as well a massive expansion in the medical marijuana dispensary market.
Since trading on MWIP stock has been one-sided, focused strictly on the linkage to Marijuana and its legalization in Colorado and Washington, the shares have been going berserk. Since September, traders have taken a $250 investment and turned it into nearly $10,000. Since the start of 2013, traders in at the open on January 3 have seen an increase of over 140%.
Corporate heads gathered for the shareholder conference call on Thursday, January 31, 2013, providing management updates as well as a rough detail of the MediSwipe’s strategic marketing and sales plan for 2013. One of the kickers that has had investors holding on and grabbing more is the teaser from the S-1 registration statement for 800 Commerce. A spin-off of the Company has had traders clinching tightly to their MWIP shares which has done nothing less than create a fury for the newest Furby on the OTC.
After finishing Friday within the top 10 penny stocks traded on the OTC, closing both “green” and within a rolling paper’s thickness from the HOD, MWIP could see a small toke before burning up the charts to try to reach that “nickel-bag” price range this month.
About MWIP Stock
MediSwipe Inc., fka Cannabis Medical Solutions, Inc. (CMSI), offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale, e-commerce and mobile payment solutions. Click here to view the SEC filings for MWIP.
Last 5 Trading Sessions:
Bottom Line: With just roughly $50K in revenues for the nine months ended September 30, 2012, MWIP stock has been one of the hottest penny stocks on the OTC — period. Are there still gains left to be had on MWIP stock? As hot as the marijuana stocks have been, and seeing as how they all roll in the same bus, when one runs, they all run.
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