IMD Companies, Inc. (OTCMKTS:ICBU) Defies Gravity with Strong Momentum Gain
There’s a wild card moment to almost all highly active OTC tickers, and that is the right timing of the promotion. In some cases, even large campaigns fail to liven up the price, but in the case of IMD Companies, Inc. (OTCMKTS:ICBU) a PR paper at the right moment means the rising trend survived the weekend, and even strengthened in the new week. ICBU grew by more than 42% on Monday, reaching $0.17, as buying expanded to $2.31 million.
In the last months, ICBU tried to place itself as a company on the side of growers, offering solutions to greenhouse management via hardware and software systems. But ICBU claims to have two working sites selling vaporizers, in essence being a distributor for various brands of those electronic devices. It is strange why ICBU is not playing up as a vaporizer company, since those tickers fare much better in the past days, but for now, the main promises circle around the ECM-5000 device, as well as a promised placement of shares with an enthusiastic private investor. Eventually, ICBU is to receive an $1 million to continue its efforts.
With that mix of positive and dubious news, ICBU is, at least in investors’ eyes, headed for a clean break through the $0.20 level. So far, this stock has shown an ability to gain great heights in a short while, and the downside tendencies are relatively limited. So while the PR is not yet stale, and with most of the trading week still ahead, ICBU is feasibly looking at those price levels.
Growers and greenhouse suppliers are among the best-liked MMJ companies, finding their way into the general Marijuana index, as well as showing a clear image to investors. Growlife, Inc. (OTCBB:PHOT) is one of the trendmakers in that area, as the ticker has not broken its upward movement for long. Currently, PHOT stepped back toward $0.50, though in the past it has shown the possibility to recover losses of this magnitude.
The trend is a bit slower for GreenGro Technologies, Inc. (OTCMKTS:GRNH), which is hovering at similar levels, though in the past days it swerved back to $0.515.
It is strange that ICBU seems to be defying the general trend, at least as outlined by the Mariuana index, which was in the red almost across the board, with small exceptions. In fact, ICBU is the fastest grower in the indicator, which sank a general 8% on the day. Now, the index is headed back to the $20 range, not being able to keep the strong positions from February, which touched $70. So while individual marijuana stocks can still have awesome days, the sector is offering slimmer pickings.
Clearly, ICBU shows that it would be unwise to hope too much on another lucky fluke of this magnitude. Despite this, investors’ forums are highly optimistic for the week ahead, and some investors even expect a significant move in the week ahead, perhaps taking the ticker as far as $0.50. The main concern about ICBU is the legitimacy, and the ability of the company to realize its business models.
ISBU remains a risky, unproven pink sheet, which unlike Rapid Fire Marketing, Inc. (OTCMKTS:RFMK) has not worked on improving its tier. Still, the small free float of a bit above 8 million shares is attractive, but it is best to be prepared for reversals.