When Will North American Cannabis Holdings, Inc. (OTCMKTS:USMJ) Bounce?
North American Cannabis Holdings, Inc. (OTCMKTS:USMJ) dropped another 14.29% yesterday, after more than 140 million shares of its commons stock changed hands – but how long will its slide last?
Is it ripe for a bounce yet? That seems to be the big question everybody on USMJ‘s message boards is interested in seeing answered. Unfortunately, there is no way to be absolutely sure about that, but there are some pretty solid indicators as to where the ticker could be headed before long.
The fact that those coincide with the company’s biggest red flags speaks volumes in and of itself.
USMJ hasn’t filed its latest financial report, opting instead to stall for time via a notification of late filing. As a result, even if investors want to make an educated guess as to where USMJ may be headed, they can’t do so. Anyone who wishes to commit to the company’s stock will just have to take the risks of betting blind.
Another detail that should definitely not be ignored is the fact that the only reason the ticker even rose in the first place was a tout by one Caprock Research, represented by a Mr. Charles I. Reed, who introduces himself as a chartered financial analyst. His ‘research report’ caused quite a bit of hype, in spite almost everything in it contradicting the information that could be gathered form actual due diligence on USMJ.
Suffice it to say that things look bleak. As usual, it is up to investors if they want to bet blindly and brave all the risks and uncertainties of a dubious OTC Markets company for the chance of potential returns, but in USMJ‘s case they’d better be doubly careful and vigilant.
One thing that they should definitely be on the lookout for is the company’s belated financial report. If it turns out as spoor as the last one, USMJ may be headed for an even rougher tumble.