Latteno Food, Corp. (OTCMKTS:LATF) Doubles Again on Strong Momentum
More and more marijuana stocks are turning into momentum plays, as they become household names and investors flock to a small range of well-traded tickers. One of those is Latteno Food, Corp. (OTCMKTS:LATF), a surprising double-zero selection that has seen both deep depressions and periods of great exuberance. Now, LATF has had another extremely positive day, adding more than 135% to $0.0087, on buying volumes of $6.55 million. While the volumes are far from record, the last five days are a solid wall of buying.
LATF remains extremely low-priced, but it often appears among the best-traded marijuana stocks, with its clear-cut business model of offering cannabis edibles for medical application. The recent run cannot be explained with an email campaign, and not even the company’s PR. The most probable expectation of investors is for upcoming earnings, which will reveal how LATF has managed in the last quarter. Positive opinions prevail, seeing LATF as a promising company that is currently underpriced.
In 2014, LATF pushed off from double-zero rock bottom, and in January increased its price nine times. Wednesday was the strongest day of climbing- and now LATF is eying the penny levels, especially if supported by news.
LATF for now does not mention often its other activity, importing seafood products through Mekonza Corporation, but this is an encouraging reminder about the company.
Still, a double-zero price is at extreme risk for volatility, no matter whether LATF is considered a hidden value stock. It is not often that those tickers gain and move into more respectable price positions.
Singlepoint, Inc. (OTCMKTS:SING) is an example of how a double-zero ticker rises to prominence, with a small change in direction toward, of course, medical cannabis. SING is using its pre-existing technology to serve the payments of the cannabis industry. The ticker shot upward toward 7 cents, from $0.007, but is now stalling at this price.
Triton Distribution Systems, Inc. (OTCMKTS:TTDZ) is in a similar predicament, so far stalling around $0.002. Still, moving out of the triple-zero range is a good way to attract investors’ attention, and perhaps see a chance at improvement.
If you still like LATF, keep in mind that the ticker has been known for deep corrections. The positive sign is that for LATF, there are no ongoing promotions. The last time the ticker was pumped in emails, it managed to lift off, only to crash painfully. If you decide to bet on the upward momentum of this stock, best ensure that you can afford the eventual losses as well.