Rightscorp, Inc. (OTCMKTS:RIGH) Triples Price After Restyling as Pot Stock
It’s already normal to have marijuana stocks crawl out of the woodwork, but this triple-zero ticker seems to have come out of nowhere. Rightscorp, Inc. (OTCMKTS:RIGH) grew by more than 212 on a sudden spike this Tuesday, reaching $0.0025, on record buying volumes of $2.08 million.
RIGH is indeed a mystery stock, with an unannounced year of incorporation, and with very little activity until the beginning of the year. We have not seen RIGH since 2010, when it was selling teeth whitening products, and again flew high only thanks to a promotion. The chart of the company is a memory of those days, when the company went as RightSmile, Inc.
Now, RIGH was boosted by a promotional email on January 9th, from promoter Penny Dreamers, and the message was sent away for free as a way to probably boost the record by deliberately selecting a very underpriced ticker. And with a delayed effect, finally RIGH had its day, the question is how long the thrill would last.
For now, investors’ forums are rather confident that RIGH is headed toward a price of a few pennies, but it still has to make a dramatic run, and survive the pressures to sell or a sudden gap in price. RIGH itself so far has not taken care to provide updates or PR, all we have are the financial filings from last September:
- Zero cash and assets
- $109,067 total liabilities
- No sales
- $161,567 net loss for the past 42 months
While RIGH has an extremely slim activity, and teeth whitening did not seem to work to provide income, the debt and losses are not too high and are easily reversible. Still, no piece of data jives with the $45 million market capitalization, spread out over billions of shares.
If you want a mover at similar levels, Latteno Foods, Corp. (OTCMKTS:LATF) satisfies more conditions without so many unknowns, as the company has a longer history in the medical marijuana sector. At the same time, RIGH offers only an online platform for consumers to select existing medical cannabis modalities, and has no physical products of its own.
To compare, we could use Medical Marijuana, Inc. (OTCMKTS:MJNA) as a benchmark. One of the most basic selections is curiously left without a wild upswing. Still, MJNA is reviving, and more than doubled in price after long months of sideways drifting. MJNA is currently around 38 cents, moving up from 15 cents at the beginning of the month.
If you would like to take your chances with RIGH or other marijuana ticker, it is best to be aware that the upswing is not always stable, and sub-penny selections are even more volatile, so avoid pouring in investments into companies that have little to show, but a lot of market exuberance.