Stevia, Corp. (OTCMKTS:STEV) Delays the Recovery
Stevia, Corp. (OTCMKTS:STEV) does not seem to be able to hold on to investors, as more are abandoning ship and the ticker seeks for a new price range. STEV shed another 10% on Monday to $0.129, as dollar volumes almost matched Friday’s selling at a bit below $454,000. STEV is falling as its latest PR on harvest levels is getting old, and the new fame as a marijuana company is not enough to prop up the price. 
While STEV was dropping in price, investors’ forums still held up the idea that the ticker was oversold and a return was imminent. The new, lighter price may indeed allow an upward movement, but we still don’t know if STEV or any other ticker would repeat the sustained climbing trends that marked the MMJ sector in February and March. STEV remains a curious case, as we have to wait and see if the company’s promises would lead to a revival of the stock price.
STEV has something of a financial padding, and its market value remains appealing a bit above $10 million. Still, the sum is not quite supported by the financials, which still contain some gaps:
- $85,366 cash
- $2.13 million total current assets
- $2.5 million total current liabilities
- $388,746 annual revenues
- $857,342 net loss
STEV has a relatively small number of 79 million shares outstanding, and no number announced for the free float. We cannot know how many shares are waiting in the sidelines to be shed on the market. Luckily, the general trading volumes for the MMJ sector are subdued. Not even the most active MMJ companies on the OTC markets vaulted the $2.1 million dollar volume.
The Marijuana index slid another 7.9% to a level of $3.47, as most companies remained in the red, with drops comparable to that of STEV. In a similar situation to STEV, though with a bit higher daily fluctuation, we find Medical Cannabis Payment Solutions, Inc. (OTCMKTS:REFG), also a relative newcomer to the sector. REFG slid by 2% on Monday to $0.21.
Terra Tech Corp. (OTCBB:TRTC) is fighting in a similar way to hold on to a respectable price, though it fell through the 50-cent levels again. TRTC did not manage to rouse enough enthusiasm with its latest round of financial results, and continues the slow slide, ending Monday at $0.46.
The week still offers enough leeway for STEV to stage a more noticeable day of growth, but this was the expectation last week as well. So it is best to choose well your entry point, as even the lower prices after a correction do not guarantee a rebounce, and may lead to deeper losses.
