mCig Inc (OTCMKTS:MCIG) is falling towards its 52 week lows of $0.106 on accelerating volume as pot stocks cool down across the board. MCIG is a stock with a long history of huge moves running from under a penny to highs over $0.90 the last time this sector got hot.
In recent news the Company announced the appointment of noted Industrial Hemp Consultant Joe Spencer as Executive Vice President of its Hemp Division. The new division will offer its first Industrial Hemp Oil-derived CBD products for both consumer and industrial markets. mCig, Inc.’s new-to-market CBD Hemp Oil Vape Pens will premiere at the Academy Awards celebrity gift suite on February 21, 2015 in Hollywood, California.
There are plenty of reasons for pot stocks to heat up here; according to a report from MMJ Business Daily, 2015 is expected not only to see more investment dollars flow into the market but it could even outpace the growth rate seen in 2014. States like Nevada, Illinois, Massachusetts, Oregon, and Alaska have all been identified as industry drivers this year. Furthermore, the rise in “big money” from some major investment funds has just started to hit the sector.
The major catalyst however for 2015 is expected to be the rescheduling of marijuana out of its current Schedule I classification. In October U.S District Judge Kimberly Mueller heard testimonies during a five day evidentiary hearing aimed at determining if the Schedule I dangerous drug is unconstitutional.
The ruling is expected to come sometime later this year and many expect to see a domino effect for the entire pot sector culminating in treasury issuing rules and regulations for working with marijuana businesses. Once they are able to use banks the entire business is expected to really take off.
mCig Inc (OTCMKTS:MCIG) manufactures and sells the mCig; a revolutionary vaporizer product that is priced at just $10. Unlike traditional vaporizers that are infused with nicotine the mCig is purpose built for the consumption of a variety of plant materials. The consumer gets to choose what they want to put in there.
MCIG said they will soon release a new mCig version, code named: mCIG 2.5 next month that features a newly redesigned and more robust power button for discreet use in low-light environments. It comes in two new colors: Metallic Blue or Red and includes a rechargeable 360 mAh battery, stainless steel chamber, silicon mouthpiece, USB charger and cleaning tool. The new mCIG 2.5 will also include a glass/ceramic chamber to store what you like.
Another big development on MCIG in recent months is their acquisition of Vapolution, Inc.; a Company that manufactures and retail home-use vaporizers such as the Vapolution 2.0 that uses a glass vapor path. By separating the air from the heating element, the taste of vapor is left unaltered. Connoisseurs agree that the purity and the density of vapor through a wholly glass path is what makes Vapolution 2.0, one of the best vaporizer’s on the market.
To Find out the inside Scoop on MCIG Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
Following on management’s vision of no dilution the Vapolution, Inc; acquisition was a non-dilutive transaction in which they issued 5m shares representing 1% of their fully diluted capital structure. CEO Paul Rosenberg matched this by cancelling 5mm shares of MCIG stock out of his personal holdings.
According to the 10Q MCIG filed on September 19 they reported revenue for the three months ended July 31, 2014 of $195,565, representing a 1,500% increase over revenues of $12,500 over the same period in 2013. HUGE
MCIG is at the right place at the right time; the move to electronic cigarettes, (commonly known as E-cigs) is quickly gaining traction as smokers look to healthier, more cost efficient alternatives to regular cigarettes.
mCig Inc seems to be the clear leader in this fledgling industry expected to grow into a $10 billion dollar market over the next few years. As long as the Company continues to build market share and make a better product than the competition shareholders could be in for really big things.
MCIG is a stock with a history of spectacular moves running from under a penny to highs of $0.922 per share earlier this year. As we come into the season that pot stocks usually heat up MCIG is one to watch. The recently announced retail outlet at the Dolby Theater is a big step and could be a driving catalyst in the coming weeks.
We have a Monster Pick Coming. Subscribe Right Now!
MCIG has a lot going for it; management is not diluting the stock and they seem focused on creating shareholder value and building a profitable Company over the long run. From a technical standpoint it looks as if the dip below $0.10 might be the reversal point shareholders have been waiting for. As we come into the season when pot stocks usually heat up MCIG deserves to be on investors closely watched.
Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!
Disclosure: we hold no position in MCIG either long or short and we have not been compensated for this article.