Totally Hemp Crazy (OTCMKTS:THCZ) Climbs Even Father Up
Totally Hemp Crazy (OTCMKTS:THCZ) jumped another 10.13% up the charts yesterday, as it announced some more good news.
As per its PR announcements, “the third production run of the Rocky Mountain High hemp-infused beverages (60,000 cases) is being scheduled with the bottling plant with a target production date within two to three weeks”.
This was taken by investors as excellent news – and it probably is, as it shows that THCZ‘s Amazon.com, Inc. (NASDAQ:AMZN) related efforts are bearing fruit – and fast.
The prevalent opinion seems to be that this is THCZ‘s ticket to profit – and, truth be told, judging solely by the company’s press releases, that seems more and more likely with each PR announcement.
However, it is never wise to rely on just PR when making investments. Proper due diligence is much more than reading and blindly trusting pot-stock press releases.
As we’ve said before, the company’s past achievements, as documented by its filings, aren’t exactly stellar. As MicroCapDaily keeps repeating, the company “has minimal assets and revenues and growing short term debt“. THCZ appears to be making revenues now – but there is currently no information regarding many factors that directly affect its profitability. How much revenue is it actually making? How much are the revenues THCZ is currently making costing the company? Does it have a gross profit or loss so far?
Unfortunately, THCZ has not seen fit to provide investors with such information, and since it is a pinksheets company, it doesn’t seem likely that it will do so any time soon.
Investors would do well to consider all these facts, as well as the fact that the company’s market cap is currently an overwhelming $91 MILLION, with a cool head before jumping on the THCZ hype train.