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  • What's Wrong With $MCIG

    After reaching a high of .91 there was a reasonable pullback. Then the pps climbed back to .80 but confusion over the CNBC interview airing date kept it stuck in the .70s. Then a seeking alpha hit piece briefly dropped the price into the .50s just hours before the CNBC interview. The pps ran well after the interview but new highs were not achieved because of the low starting point.

    From there the pps has been hit hard twice, once when PHOT got shut down and again when the FDA ecig proposals were made. Neither one should have affected mcig, but investors in the OTC are a finicky bunch.
    Also, at each resistance point short interest gets close to the 50% mark.

    The good news is that longs have an ace up there sleeve in the next earnings report. The bad news is that we are still about a month and a half away from seeing it. The pps may drop a little lower in that time but hold it long because retail news or endorsements could come at any time.

    Tags: MCIG
    Apr 30 2:27 PM | Link | Comment!
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