Anastas Gegov

Endexx Corp. (OTCMKTS:EDXC) Continues To Ride The Medical Marijuana Hype

by Anastas Gegov January 9, 2014
6EDXC_chart.pngThe stock of Endexx Corp. (OTCMKTS:EDXC, EDXC message board) has finally joined other tickers in the medical marijuana industry that have been rising since the beginning of 2014 and the first legal sale of medical marijuana for recreational use in Colorado on January 1.

Even though it was slow to follow without the attention and mentions in articles that companies such as Medical Marijuana Inc. (OTCMKTS:MJNA), Cannabis Science Inc. (OTCMKTS:CBIS), Hemp, Inc. (OTCMKTS:HEMP), Growlife Inc. (OTCBB:PHOT), GreenGro Technologies Inc (OTCMKTS:GRNH) and Terra Tech Corp. (OTCBB:TRTC) got, EDXC made significant jumps in the past few days, both in price and in volume.

The total gain that EDXC has made since the beginning of the week is estimated at some 114% and the amount of traded stock gets bigger with each session. Yesterday it was almost 10 times the tickers average and the company stock still managed to make a nice jump.

429LOGO.pngThe session ended with a good 46% gain in value for EDXC and a price of $0.149. The total amount of shares that switched hands came at 9 million, which was the biggest since the huge dumping of stock in the end of March and generated $1.2 million in dollar volume.

On the bad side of things, EDXC managed to attract some unwanted attention with its success and late on January 7 we received a promotional email from JetLife. There was no compensation for the effort, but there is no doubt what the purpouse was.

JetLife is the same promoter that "alerted" us about Creative Edge Nutrition, Inc. (OTCMKTS:FITX) on December 31 (not like they wrote in the email December 30) and it seems that they are always a bit late with their tout emails. The FITX email also listed no compensation.

The deal is that there was going to be a boom in the medical marijuana industry, considering the optimism that the sector got from the scheduled start of the legal sale of marijuana in Colorado in the beginning of the year, so it doesn't take to be a penny stock veteran to know what will happen.

6SNWR_chart.pngThe only reason for which JetLife sent out the emails for both FITX and for EDXC is that they wanted to wash their hands from previous paid promotions they did for companies such as Sanwire Corporation (OTCMKTS:SNWR) and 3Dlcon Corp (OTCMKTS:TDCP) who crashed hard after being touted by the promoters, while being heavily dumped by insiders. You can check FITX's chart to the right and be the judge of that for yourself.

Let's not forget that the latest financial statement that we saw from EDXC was covering Q2 of 2013 and as we mentioned in our previous article about the ticker wasn't exactly rosy and combined with the unhealthy attention that JetLife might create we migh see a corretion sooner than expected.

This is the exact reason for which we would advise you to be sure to watch out and do your due diligence before deciding to take the bet, despite all the hype surrounding medical marijuana stocks.

Comments 2

1. Guest
January 22, 2014, 04:32AM

Quotes It’s a Classical 4 Cents Penny, Nothing More.

2. Guest
January 09, 2014, 02:57PM

Quotes fresh news out EDXC......http://www.otcmarkets.com/stock/EDXC/news/Endexx-to-Track-a-Million-Pounds-of-Medical-Marijuana-in-Canada?id=74157&b=y

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