With the delayed release of the United Treatment Centers, Inc. (UTRM) website, potnetwork420.com, and the “official” release of a shoddy www.hemp-x.com by a Hemp, Inc. (HEMP) subsidiary; the reliability of the marijuana sector is beginning to fade.
Don’t mistake my short-term pessimism for a blacklisting of the entire sector. Many of us at Hereit1st.com believe that there will be pot stocks that are penny and sub-penny today, that will grow into mid-cap and possibly large-cap companies as the legalization of medical and recreational use spreads throughout the United States.
In the early part of 2014, these pot stocks saw exponential growth as the buzz around the industry and the revenue made in Colorado made it’s way into major news outlets. For example, HEMP saw a jump in price per share from $0.075 to $0.2992 in just four business days (1/31/14 – 2/5/14); and UTRM ran from $0.0002 per share on Jan. 31, 2014 to $0.0023 per share on Feb. 5, 2014, the same four day period as HEMP. These two companies, as well as others in the industry (i.e. MJNA, CBGI) have seen extreme ups and downs over the past three-plus months, creating a new “gold rush” of sorts.
The slight comparison that hemp-x.com has drawn to potnetwork420.com is a reach at best, but it has come up in conversation over the past few days and has also caught my eye on a message board or two. Yesterday, April 15th, 2014, Greene Concepts, Inc. (a Hemp, Inc. community company) officially launched The Hemp Exchange (http://hemp-x.com) after weeks of beta testing. The fully-integrated and operating multi-platform network serves as a powerful marketing tool for all hemp industry participants, growers, wholesalers, traders, manufacturers, distributors, retailers, experts and users, according to LKEN executives.-Globe Newswire This marketing pitch does not come to fruition once a pair of eyes is laid on the 1999 caliber web design. Hopefully there is a release tomorrow stating that the website release was delayed, because at this point it looks completely unfinished for an “official website” in 2014.
United Treatment Centers, Inc. planned an official release date of their “CNN of the marijuana industry” for March, 28th 2014. Unfortunately, the 28th came and went and potnetwork420.com’s official website was not released, but that time has come again. On April 20, 2014 (“420”), the website is scheduled to release “phase one” of the official site.
What will we see from UTRM? Has the buzz around UTRM passed with the official release of unfortunate looking hemp-x.com? These are both reasonable questions I’ve received from followers today, and my answer may not please everyone. My optimism has faded on UTRM after the postponement of the initial release date and the following news stating that there will be phases of the release. I have never been a fan of an unfinished product being released, and I feel this way in regard to potnetwork420.com. Will I play UTRM for the release date? Possibly; if I free up some funds the day before and the price per share is reasonable, but I will not be playing it with the same amount confidence or capital I did for the March 28th “release”.
Rosenberg (OTC Daily)