Electronic Cigarettes Intl Group Ltd (OTCMKTS:ECIG) Gets A Serious Correction

[[tagnumber 0]][[tagnumber 1]]After a long slide throughout August and September we finally saw the stock of Electronic Cigarettes Intl Group Ltd (OTCMKTS:ECIG) begin to regain some value last month. The regular press releases proved to be able to help the ticker and it just seemed like it got enough of a beating after reaching the lows at which it was sitting in the beginning of July.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, the company has been keeping busy and this is obvious from their financial filings. The latest one is covering the quarterly period ended September 30 and was filed in the beginning of this week. Its balance sheet contained the following numbers of prime interest.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $644 thousand[[tagnumber 11]] [[tagnumber 10]]current assets: $12.2 million[[tagnumber 11]] [[tagnumber 10]]current liabilities: $46.3 million[[tagnumber 11]] [[tagnumber 10]]net sales: $15.4 million[[tagnumber 11]] [[tagnumber 10]]net income: $9.2 million[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These are some impressive figures for an OTC listed entity, especially when you take into account the massive net income that [[tagnumber 24]]ECIG[[tagnumber 25]] has recorded. We also see an increase in sales, but the cash reserves have gotten smaller and the amount of current liabilities has risen significantly.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, in the midst of all the great news lately, we have seen the ticker gain quite a lot of height. Unfortunately, the pressure got to it and it lost 16.41% in yesterday’s trading, dropping to $0.303 while a total of 577 thousand traded shares generated $182 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After we saw [[tagnumber 24]]ECIG[[tagnumber 25]] lose nearly all the gains it had made since the beginning of the week in a single session we see that the ticker is trying to recover in today’s trading. Only time will tell how this will go, so be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]