International Consolidated Companies Inc (OTCMKTS:INCC) is About to Drop Some News
International Consolidated Companies Inc (OTCMKTS:INCC) dropped below the $0.001 mark last month and it looked like it’s going to stay there for a while. The drop to less than a tenth of a penny was actually the culmination of a rather long slide that started way back in 2014 when INCC was hovering above $0.01 thanks to the hype surrounding the marijuana industry.
Hype, as you can see, was insufficient to keep the stock afloat, but apparently, many investors are now ready to give it a second chance. Over the last few days, we’ve seen some increased volumes and the ticker seems to be marching north. It’s quite a resolute march as well. Yesterday, for example, INCC gained a solid 50% and it reached a close of $0.0006 per share. It even hit an intraday high of $0.0009 which means that it could soon fancy its chances moving out of triple zero land. But does it really deserve it? And, more importantly, will it be able to hold a more steady trajectory once it moves past the $0.001 mark?
Many people will have a look INCC‘s latest financial report and they’ll say that the stock belongs to the murkier ends of the triple-zero levels. We’re not the ones who will comment on such conclusions, but we will say that the financial report doesn’t look good. Here’s a summary of the most important figures:
- cash: $15,591
- total assets: $27,092
- current liabilities: $3,297,976
- NO revenues
- quarterly net loss: $627,685
Clearly, nobody in their right mind would jump in because of these figures. They would probably do it because they hope that the figures in question will be improved in the near future. Sure enough, the current excitement around INCC is caused by a tweet from last week with which the company announced that it’s about to issue a shareholder update today.
Nobody can say what the update is going to be about, but, as is often the case, speculation is plentiful. Many people reckon that INCC has some good news to share, and they’re eager to buy in before the optimism coming from the press release takes over the rest of the market. That strategy might not be entirely outlandish.
INCC has issued more than a few press releases over the last year or so and they all sound quite optimistic. Most of them managed to cause some excitement and price appreciation as well. The thing is, you mustn’t get overly enthusiastic. The stock already showed us that its qualities as a long-term investment are questionable and let’s not forget that it’s one thing to see a bright promise in a press release, but it’s a whole different thing to see it become a reality.
In December 2014, for example, the company said that the DTCC Chill should be removed “in the near future”. According to the latest report, the chill is still in place.