Having gained over 500% since our Marijuana focused stocks to watch coverage on election day, MediSwipe Inc.(OTC: MWIP) is ballooning today. The patient security solutions and financial products company for the health care industry announced today that they relocated they’re corporate headquarters from West Palm Beach, Florida to Birmingham, Michigan due to favorable state legislation regarding medical marijuana and dispensary laws. Smoke ’em if you got ’em they say and MWIP stock is smoking its way up the charts and the most traded OTC stock list.
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MWIP Stock Chart
Market Cap: 11.73M
Last: 0.0264 ▲ 0.0085 (47.49%)
Dollar Volume: $865,986
Issued and Outstanding: 444,167,878
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Although there is nearly 1.5 shares of MWIP stock for each person living in the U.S., since October when the legislative laws regarding cannabis were up for a vote in a number of cities and states, anything with “marijuana” attached to it has been hot. Looking at the 10-Q filed just after the election results in November, one would have to wonder what is so hot about $812 in cash and $50,239 in fee revenues after the first nine months of 2012. The reality of the matter is, you gotta put your weed in it.
Since you can be jailed in Florida for farting in public, the move to Michigan was in the best interest of MediSwipe according to Company President, B. Michael Friedman. According to Friedman, “I felt this move was a necessary and important move for the Company, and will allow us to keep a close pulse on the industry as we continue to introduce innovative products to businesses and patients in Michigan and surrounding states proposing similar legislation.”
Later on in the PR, Friedman was quoted as saying “Right now, MediSwipe can offer server or cloud based patient record scanning and record storage through our DigitalID software, bill pay and cashless payment kiosks for alternative payment solutions as well as mobile platform solutions for coupons, prescription alerts and renewals. Any dispensary or healthcare operation seeking more information on the MediSwipe suite of products may call our offices at 561.296.6393.”
Great plug and did anyone notice Michael’s last name?
About MWIP Stock
MediSwipe Inc. 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, here to view their website.
Last 4 Trading Sessions:
Bottom Line: Up over 500% since the election, over 200% since our last alert on them, MWIP is a smoking hot penny stock which is likely to stay hot for a few more sessions. Technically speaking, MWIP stock is in blue sky territory having broken past its 52 week high for a split second today and needs to establish a new base before attempting to break through the 3’s or better.
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