mCig Inc (OTCMKTS:MCIG) Shares Kick Back Into Gear


mCig Inc (OTCMKTS:MCIG) is a micro-cap in the cannabis patch that just popped back onto the radar of traders on the OTC as the stock breaks higher. Wednesday’s move took the stock above one-month range highs as well as the stock’s 200-day simple moving average. There was no immediate catalyst to fire the move that we could find, in terms of a press release or SEC filing. However, the company is still working in the wake of the company’s announcement, less than a week ago, that one of its divisions, the Cannabis Supply Division, completed $100K in sales during the last week of June.

In all, the chart shows 21% tacked on to share pricing for the name in the past week. Market participants may want to pay attention to this stock. MCIG has a history of dramatic rallies. Moreover, the stock has seen an influx in interest of late, with the stock’s recent average trading volume running 31% over the long run average.

mCig Inc (OTCMKTS:MCIG) offers electronic cigarettes and related products through its online store, as well as through the company’s wholesale, distributor, and retail programs. It also constructs commercial and modular buildings which are aimed at the cannabis cultivation market.

The company was formerly known as Lifetech Industries, Inc. and changed its name to mCig, Inc. in August 2013. mCig, Inc. was founded in 2010 and is headquartered in Henderson, Nevada.

According to company materials, “Headquartered in Henderson, Nevada, mCig Inc. A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large-scale, full-service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change.”

The company’s subsidiary, Grow Contractors, touts itself through the following messaging: “Using modular system technology, we create a variety of environmental enclosures ranging from basic temperature and humidity control to medical grade cleanroom environments designed to produce consistent results during any stage of cannabis cultivation. Our mission is to help our clients safeguard investments and find long-term success. This is why we take pride in our ISO compliant, state of the art building components to be the base of your business.”

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As noted above, shares of the stock have just kicked into gear, ripping back above the $0.20 level in a burst of volume mid-week this week. The most recent catalyst driving the name is the company’s announcement of a very strong week of sales to close out its month of June for the its Cannabis Supply Division,

According to the release, the marijuana market in Nevada has exceeded all expectations since the sale of cannabis for recreational purposes generated $3M in just the first 3 days of July.

Management notes that MCIG’s cannabis supply division was one of the first suppliers of state mandated packaging for dispensaries and grow facilities in Nevada. “Prior to July 1st, MCIG’s supply division built its sales team, product line and customer base, doubling its revenues (100% month over month) and building inventory in anticipation of the legal recreational market. Since this roll out in Nevada the supply division sales have increased 300%. Based on current positioning, only in the Nevada market, management anticipates revenue from the Supply Division to reach $2.5 – $3 million in the current fiscal year.”

“The growth of the cannabis industry is unparalleled to anything I have seen in my 45 years in business. MCIG’s supply division business has grown from selling childproof bags just a few months ago, to offering a full line of products, including cannabis cultivators, extractors, production supplies, custom packaging, generic and private labels, cartridges, jars, vape products and state mandated supplies to almost every dispensary and grow facility in the state of Nevada,” states Cannabiz Supply, CEO, Charles Fox.

At this time, carrying a capital value in the market of $92.8M, MCIG has a reserve ($420K) of cash on the books, which is balanced by virtually no total current liabilities. MCIG is pulling in trailing 12-month revenues of $2.5M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 445.9%. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $MCIG stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $MCIG, either long or short, and we have not been compensated for this article.


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