The legal sale of marijuana may have it’s own argumentative stage within the general public, but from a penny stock trading point of view, the whole thing is beginning to become the biggest pump and dump in history and traders are lining up, bent over and lubed up for it. Don’t get me wrong, the real deals deserve all the gains they have earned and are likely to not only hold onto them, but build on even more as states slowly begin to turn the nation into a big puff of smoke. Awesome Penny Stocks had their time in the sun whereby educated traders knew when to pull out and play the dip, yet when the top 20 traded OTC tickers are almost all involved somehow in marijuana, will this fad last longer than parachute pants or a Vanilla Ice style haircut and can the newbie traders see the light at the end?
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Top 20 Penny Stocks Traded
| Symbol | Price | % Change | $ Volume | Share Volume | Trades |
|---|---|---|---|---|---|
| HEMP | 0.2991 | +14.64% | 59,581,825 | 195,450,288 | 17,748 |
| PHOT | 0.39 | +0.51% | 31,567,452 | 84,178,506 | 10,400 |
| CBIS | 0.293 | +31.00% | 21,878,589 | 86,127,769 | 9,034 |
| MJNA | 0.345 | +11.29% | 11,948,437 | 35,033,421 | 5,539 |
| EAPH | 0.0682 | +106.67% | 10,173,648 | 192,291,017 | 4,828 |
| LATF | 0.0069 | +135.14% | 6,556,686 | 1,105,688,933 | 4,276 |
| SKTO | 0.0511 | +1.99% | 6,718,991 | 116,615,357 | 3,851 |
| REVI | 0.0543 | +692.06% | 3,551,503 | 97,539,524 | 3,188 |
| ERBB | 0.0167 | +15.75% | 4,760,370 | 277,842,118 | 2,976 |
| GRNH | 0.5759 | -4.18% | 5,244,645 | 9,435,422 | 2,630 |
| TRTC | 0.5702 | +5.37% | 5,635,411 | 9,650,682 | 2,537 |
| PLPL | 1.63 | +0.62% | 5,554,552 | 3,811,097 | 2,479 |
| FSPM | 5.83 | -22.36% | 6,174,289 | 1,008,930 | 2,461 |
| FNMA * | 3.04 | +0.33% | 27,476,626 | 9,131,556 | 2,317 |
| FITX | 0.0585 | +11.43% | 4,223,500 | 78,265,183 | 2,268 |
| USEI | 0.0084 | +109.30% | 2,026,141 | 258,910,106 | 2,214 |
| RFMK | 0.0039 | +69.57% | 1,971,182 | 630,275,521 | 2,092 |
| ICBU | 0.1639 | +13.90% | 3,609,569 | 20,449,329 | 1,820 |
| RIGH | 0.0026 | +62.50% | 2,429,185 | 1,045,682,174 | 1,801 |
| AEGY | 0.0091 | +12.35% | 2,497,372 | 283,959,708 | 1,685 |
* = Not Marijuana Related
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Let’s take a look at Hemp Inc. (HEMP) for starters since it has been the hottest ticker on the OTC for the past 2 days. Although there are 1,649,949,387 issued and outstanding as of September 30, 2013 (roughly 4.25 shares for every single American citizen), HEMP stock has surged from sub-penny status 1 week prior to Christmas to a new high of 0.34 today for gains of 3,900% in just 7 weeks time. At least the company has some revenues behind them ($673,588 and $1,634,780 for the 3 and 9 months ended September 30, 2013) even though they do not cultivate, distribute or possess marijuana.
Then there’s one of our favorites, Growlife Inc. (PHOT), fka Phototron Holdings Inc., who supplies growers of any plant the lighting systems needed to get the best artificial environment for maximum yields. PHOT stock hasn’t quite been able to revisit their 52 week high of 0.467 set back on January 9, but at least Growlife as a better share structure (738,473,611 issued and outstanding as of December 17, 2013) and stronger revenues to support their share price ($1,313,399 and $2,939,026 for the 3 and 9 months ended September 30, 2013, respectively versus $475,870 and $776,125 for the same respective periods in 2012).
Ranking 3rd you’ve got Cannabis Science, Inc. (CBIS), one of the original medical marijuana research and development companys that has been working with world authorities on phytocannabinoid science in an effort to tackle critical illnesses while adhering to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products. CBIS stock was one of the first marijuana stocks we ever went bullish on back when it was trading at under .02, so to see it set a new high today at 0.288, up over 1,300% since our initial coverage, the minimal revenues and 761,323,906 issued and outstanding shares would indicate another glass ceiling has been touched.
We could go on to the 4th, 5th, 6th, all the way to the 20th on the list , but that’s really your job since you either have money in it or are thinking about throwing some at one of them. With the majority of them all being pink sheeters, we simply can’t help but be concerned that the hype machine of including “marijuana,” “cannabis,” “hemp” or “pot” in your PR is due to change direction since nearly every one of the bandwagon tickers were 10X worse dumpers than Awesome Penny Stocks ever was (except for that crap they pulled with VLNX).
About Marijuana Stocks
Do your research. Search the names of key corporate officials and major stakeholders, as well as the company itself. Proceed with caution if you turn up recent indictments or convictions, investigative articles, corporate name changes or any other information that raises red flags.
For example, the CEO of one thinly traded, yet heavily touted, company that purports to be in the medical marijuana business spent nine years in prison for operating one of the largest drug smuggling operations in U.S. history. The former CEO of a similar company was recently indicted for his role in a multi-million dollar mortgage-based Ponzi scheme. Check the Federal Bureau of Prisons Inmate Locator to determine if a solicitation is coming from someone who has served time in a federal prison. Many states also have similar prisoner locator systems.
Bottom Line:
Looking like a short-term version of the dot-com boom of the late 90’s, the surge in penny stocks linked to marijuana is due for a correction. Many are of the belief that no authorities really give a crap about the marijuana stocks, but, as was witnessed just Monday when the SEC suspended 255 OTC listed tickers, big brother is always watching. Hopefully the parachute pants work for a soft, safe landing in the green zone before a scalping comes leaving believers with an “Ice Ice Baby” do.
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