mCig Inc (OTCMKTS:MCIG) is strong over the $0.21 base. The stock saw a spectacular rise in price at the end of last year shortly after the Company changed their name to mCig Inc from Lifetech Industries Inc. Starting off in the sub pennies MCIG went on to run to incredible highs of $0.922 on massive volume.
The massive run up on MCIG was caused by the red hot Cannabis sector responsible for many of the biggest winners in recent penny stock history. As the sector cooled down MCIG has been slowly drifting downward and is currently nearing previous established support level at the $0.10 level.
One thing longs are betting on is that the Cannabis sector will heat up again as Marijuana was legalized in Alaska, Oregon and Washington D.C They are betting wisely that the entire industry will continue to heat up as massive media attention is focused on Cannabis.
mCig, Inc. (OTC:MCIG) is a technology company focused on two long-term secular trends sweeping the globe: (1) The decriminalization and legalization of marijuana for medicinal or recreational purposes (2) The adoption of electronic vaporizing cigarettes (commonly known as “eCigs”) by the world’s 1.2 Billion smokers. The company manufactures and retails the mCig(R) — the world’s most affordable vaporizer priced at only $10. Designed in the USA — the mCig(R) provides a superior smoking experience by heating plant material, waxes, and oils delivering a smoother inhalation experience.
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MCIG also owns Vapolution, Inc. which manufactures and retails home-use vaporizers such as the Vapolution 3.0. Through its wholly owned subsidiary, VitaCig, Inc. the company manufactures and retails the VitaCig(R), a $5 nicotine-free eCig that delivers a water-vapor mixed with vitamins and natural flavors.
The mCig® embodies a sleek design that is convenient and efficient. At ≈ 5 inches, the mCig 2.0 is ½ inch shorter than the 1.0 making it pocket sized, with a locking mechanism to prevent accidental deployment. The mCig® heats plant material instead of burning it, providing a superior method of consumption that is much smoother. The proprietary LED button lights up when turning the mCig® on, when selecting a desired heating voltage, and when pressed down to heat up the plant material.
On September 25 MCIG announced the official launch of the improved mCig® known as the mCig® 2.5. The 2.5 represents an improved 2.0 rather than a next generation device (codenamed:3.0) planned for an early 2015 launch.
Priced at $15, the mCig® 2.5 features a newly redesigned and more robust power button for discreet use in low-light environments. The silicon ring on the 2.0 has been replaced with a stainless steel ring giving the 2.5 a sleeker appearance.
The mCig® 2.5 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. Unlike the mCig 2.0, the 2.5 includes a default glass/ceramic chamber for dry herb.
A new mCig deserves new packaging. For the 2.5, we redesigned our packaging doing away with the term “eCig” and replacing it with “Herbal Vaporizer”. We believe this to be an important improvement as we prepare to kick off an online marketing campaign that requires our ads be approved by major marketing partners.
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Conclusion: MCIG made an absolutely spectacular run up at the end of last year when the Cannabis sector exploded to highs of $0.922 per share. When pot stocks heat up, clearly MCIG is one to watch. Currently falling towards previously established support around a dime some investors are accumulating here betting the stock holds.
As pot stocks heat up again, MCIG is a stock to watch; it ran from sub pennies to over $0.90 per share the last time the industry when viral and investors are hoping it can do it again. Currently trading at a $55 million market valuation MCIG is one pot stock that deserves to be on investor’s radars here.
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Disclosure: we hold no position in MCIG either long or short and we have not been compensated for this article.