VAPE HOLDINGS INC (OTCMKTS:VAPE) is testing the $1 level once again after the stock made a recent run-up from $0.75 to highs over $1.20 per share. Investors remember the spectacular run VAPE made earlier this year with highs over $45 per share shortly after entering the red hot Cannabis sector after the name change from Peoplestring Corp. in January.
The Cannabis sector was on fire and any Company even remotely related experienced exponential growth. Then in March, CANN got halted and the entire industry got spooked and went into free fall. VAPE fell along with every other stock in the sector hitting a low of $1 back in June before bouncing up to nearly $3.
Now that VAPE is testing the $1 support a second time and the Company’s market valuation has dropped below $10 million some investors have been accumulating.
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VAPE HOLDINGS INC (OTCMKTS:VAPE) focuses on designing, marketing, and distributing various vaporization products. The company offers medical and food grade ceramic products primarily under the HIVE Ceramics brand throughout North America, Europe and South America. HIVE offers a nonporous, non-corrosive, chemically inert ceramic vaporization element, which can be used for a range of applications, including stand-alone vaporization products and electronic cigarettes. The company is based in Woodland Hills, California.
On September 16, VAPE announced the newest line of products under the HIVE brand, HIVE GLASS, which is set to release on or before December 1, 2014. The HIVE GLASS line is precision made using state of the art manufacturing processes and techniques, and exclusively uses German Schott glass and fittings through all production phases.
VAPE president Joe Andreae stated “We have been researching and developing our production glass line for many months now, with the help of our extremely dedicated and experienced team, as well as various industry experts and glass manufacturers. We have developed what we believe to be an affordable, very high quality product that is both aesthetically pleasing and highly functional. Our existing customer base and distribution network will be the catalyst for expanding our HIVE brand across all vertical markets.”
VAPE has begun to book some decent revenues; back in April the Company announced that it has over $100,000 in sales of its proprietary HIVE Ceramic line since it began processing orders in early April. The Company also has back orders for over $250,000 in future sales as they await arrival of the ceramics from the Company’s manufacturing facility.
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Kyle Tracey, CEO of VAPE said at the time “I am very pleased by the early acceptance of the premium HIVE Ceramic line, especially because the majority of the purchases were made by the most informed buyers in the marketplace, those who know what is being sold nationwide, It’s evident from the overwhelming response at the Cannabis Cup this past weekend that the HIVE Ceramic line, which has now expanded to 14 designs, is becoming a popular choice for consumers.”
Conclusion: VAPE continues to garner significant investor interest as it hovers at proven support level of $1. Currently trading at a $9.5 million market valuation VAPE has a history of explosive moves and might seem cheap at current levels considering that chances are good that the Cannabis sector will heat up again this November.
The sector should get a boost from Marijuana being legalized in Alaska, Oregon and Washington DC (already legal in Colorado and Washington) and the resulting massive publicity on the multi-billion dollar fledgling industry.
VAPE a stock to watch here and might just provide a spectacular trade opportunity in the coming weeks and months ahead.
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Disclosure: we hold no position in VAPE either long or short and we have not been compensated for this article.