Since the initial run at the start of the year when marijuana related penny stocks all went on a 10-bagger or better 3-month run, using a buy-and-hold strategy today is simply just a stupid way to approach them now. Such is due to be the case for Novagant Corp. (NVGT) whose pinksheet listed shares are due to see a remarkable amount of volume change hands thanks much in part to a decent press release and a $35,000 awareness campaign kicked off by the StockPalooza crew. With the marijuana industry still young and thriving, the hype of displaying their AlKanna LED grow lights and GLAVapeT medical cannabis vaporizer at the 2014 Money Show in San Francisco is sure to be just enough to send traders flocking towards NVGT stock for a Monday flip or two.
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NVGT Stock Quote
Market Cap: 14.76M
Last: 0.19 ▼ -0.0401 (-17.43%)
Dollar Volume: $22,754
14-Day RSI: 37.03%
1st Resistance Point:
1st Support Level:
52Wk High: 2.00
52Wk Low: 0.16
Two weeks back, when NVGT stock was trading well above 0.30, Novagant announced that it was “going to release” their GoldenCBD™ oil, the self proclaimed finest, most consistent Cannabidiol (CBD)-rich hemp oil in the world, which was due to be made available in capsule and liquid form. With new marijuana stocks popping up seemingly every day, traders weren’t biting on the news, especially since “preparing to introduce” product lines have been a consistent phrase used over the course of the year which has seldom proved to be a catalyst strong enough to overpower the greed behind the sellers who have chosen to hire awareness groups to get out their message.
Prior to becoming Novagant and focusing on the crave for marijuana products, the Company’s shell went through an array of different business plans:
- Petrogulf, Inc. until 1-2014
- Forex, Inc. until 3-2008
- EDOLLARS, INC. until 6-07
- TrimFast Group, Inc. until 11-06
- HLHK World Group, Inc. until 9-98
- Kendrex Systems, Inc. until 11-96
Seeing so many changes in business direction, albeit that most of it was prior to the Petrogulf Inc. (PTRF) run, tells you that the shell has been used over and over again to help finance deals for cheap stock which is then dumped on the market. If that isn’t a clear enough indicator, perhaps the 5 reverse stock splits will lead you down the path to understanding that this shell game has just gotten a lot potter.
Today’s news that Novagant is planning to show off their AlKanna LED grow lights, GLAVape™ medical cannabis vaporizer product, and their GoldenCBD™ Cannabidiol products at the upcoming 2014 Money Show in San Francisco only solidifies that the $2,012 that was on hand on March 31, 2014 and no revenues means they desperately need these products to be a bang. Unfortunately, the only bang is going to be for the note payable converters, 18,600,000 shares that were valued at $5,033 (0.00027 per share) and another 25,000,0000 with a value of $45,854 (0.00183 per share) that were issued to settle a prior debt, who are going to be letting their NVGT stock go to the highest bidder.
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About NVGT Stock
Novagant Corp. is a development stage company that is focused on becoming an innovative, diverse company in the development and sale of equipment to enhance and benefit the growing medical cannabis industry.
Issued and Outstanding: 77,871,562
Last 4 Trading Sessions:
Traders will undoubtedly be flocking towards NVGT today, especially since almost all of the top 20 traded penny stocks from Friday were also pinksheet listed companies. Expecting to see something more than just one-day’s worth of awareness on NVGT stock, those that do decide to buy-and-hold overnight will have to cross their fingers that tomorrow’s volume can bring in new buyers to relieve the pressure of having yet another marijuana stock burn down to a roach before it ever produced a strong enough buzz for anyone to get high off of.
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