The launching station is locked in and loaded for the newest marijuana penny stock, Cannabis Kinetics Corp. (CANK), to begin trading after changing its name and ticker from Lingas Ventures, Inc. (LGSR). Coverage of what is now CANK stock was initiated back on April 25 prior to the 1-for-10 reverse split on the self-proclaimed, nations’ premier, fully integrated cannabis management company. Although the share price has already increased 33% on the thinly traded pot stock, attracting attention this late in the year after other late arrivals proved to be unworthy of a long position appears to be a struggling task in a market saturated by copy cats.
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CANK Stock Quote
Market Cap: 115.73M
Last (June 5): 3.99
Back in April, we reported how the 3 insiders of Cannabis Kinetics Corp. bought control of Lingas Ventures and was planning to get into the marijuana infused beverage products market. The Company consummated that deal on June 6, when they agreed to buy all of the assets of REM International, LLC from Robert E. Matuszewki, the owner, for $118,500 in cash and 1,500,000 shares CANK stock, subject to certain terms and conditions, which basically gives them the property rights to REM’s custom beverage solutions and trademarks such as REMBEV and JimmyDrink.
REM Beverages USA and JIMMY DRINK USA have profiles on Twitter and Facebook, but haven’t been actively updated since August, 2013 and both of their websites are inactive at the time of this posting. Regardless, the fact that Cannabis Kinetics will be involved with the energy drink market in some fashion which includes marijuana infusion puts CANK stock on the map twofold by covering to sectors which have historically been aggressively traded.
If CANK stock appears to high to pursue considering its $4 price tag, Nhale Inc. (NHLE), fka Gankit Corp. (GANK) could be another option. Back in February when GANK stock got pumped, shares rose to well above the $1 level as news flowed as if it was fueled by an energy drink about the Company was one of the fastest growing online auction sites in the U.S. and was even exploring Asia as an expansion market. The gas ran out quickly after peaking at $1.33 in early February and tanked all through the spring months to as low as 0.14 before being abandoned by traders.
The name and ticker symbol change to Nhale after Riverview Heights, LLC took control of Gankit Corp. completely switches industries from auction sites to a new business dedicated to the development, branding and distribution of non-flame smoking devices. With the success that the e-cigarette market has had, traders who already scored themselves a piece of NHLE stock look like they “Nhaled It” by getting into a portion of the 10,000,000 shares Lance Williams and Clark Rohde don’t own.
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About CANK Stock
Cannabis Kinetics Corp. is a development stage company which, subject to an asset purchase agreement with REM International, LLC, is looking to develop, manufacture and market marijuana infused energy drink products.
Issued and Outstanding: 29,005,700
Last 5 Trading Sessions:
CANK looks like it is going to need to come down considerably before any traders would be willing to actively trade the newest marijuana penny stock. On the flip-side, with NHLE stock showing some life after Friday’s action, the “vape” sector looks to be the direction more traders are heading into to avoid getting smoked on another Cannabis-Rx Inc. (CANA) type catastrophe.
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