Efftec International, Inc. (NBB:EFFI), Lexaria Corp. New (BB:LXRP), Home Treasure Finder (OTCCB:HMTF), and Medican Enterprises Inc .commo (OTCCB:MDCN):
Efftec International, Inc. (NBB:EFFI) is following the route of many penny stocks by issuing press releases regarding is intent to enter the marijuana business. We are somewhat intrigued that EFFI could be a pump candidate since shares outstanding are under 50 million, which is an unusual circumstance for a pump and dump. However, the chart pattern is very choppy and provides no clear direction of the stocks momentum.
Even more intriguing, Lexaria Corp. New (BB:LXRP) announced on 3/4/2014 that it is ready to ride the marijuana hype:
“Lexaria Corp. (OTCQB: LXRP) (CNSX: LXX) reports that its board of directors has decided to make a strategic entry into the medical marihuana business by way of an important Joint Venture with Enertopia Corp. (OTCQB: ENRT) (CNSX: TOP).”
LXRP has around 20 million fully diluted shares and just broke out of flat line chart, making it an ideal pump candidate. In fact, it’s shares opened up 100% upon this news announcement and traded as high as $0.65 during the trading session before settling at a price of around $0.30. We will buy some pump shares in anticipation of positive news flow. As previously disclosed we also own Enertopia (OOTC:ENRT).
Medican Enterprises Inc .commo (OTCCB:MDCN) is a bio-pharmaceutical company focused on developing, distributing and marketing pharmaceutical grade cannabis to the emerging global medical marijuana market. The stock is another small floater with $27 million shares outstanding. In November the company announced:
“The new business operations of the Company will focus on newsworthy developments in the medical cannabis (“MMJ”) industry. Specifically, the Company has engaged a consultant to administer a website, www.cannabismagazine.com , that will focus on new developments in and related to the medical cannabis industry.”
Press release flow has just begun.
Home Treasure Finder (OTCCB:HMTF) issued an 8-K on 3/4/2014. The company formed a wholly owned subsidiary, HMTF Cannabis Holdings, Inc. The purpose of the subsidiary is to purchase properties that qualify for legal cultivation of cannabis.
“Our subsidiary will improve the properties which will then be leased to licensed third party growers.”
Investors have gravitated toward pot stocks with a similar service. With 11.7 million outstanding shares this stock is an ideal pump candidate. The company has yet to issue any press releases, so we don’t think the usual cannabis crowd has found the company. We will take a speculative position. Investors can reference the stock share performance of similar companies with small floats such as Zoned Properties (OOTC:ZDPY) and Mentor Capital (OOTC:MNTR).
For a list of stocks we are tracking in the Marijuana space, please subscribe to our premium service!