Hristina Beeva

Latteno Food Corp. (OTCMKTS:LATF) Gasps for Air Amid Sinking Trend

by Hristina Beeva May 13, 2014
Latteno Food Corp. (OTCMKTS:LATF, LATF message board) had a rare day of growth at the beginning of the new week. Among marijuana stocks, there is always the vague optimism that a new trading week would help overcome the general pessimistic trend. But so far, the growth was slim for LATF, a bit more than 14% to $0.004, as buying remained tentative at $363,000. 6LATF0513.png

For now, LATF has not sent out any updates, and it relies on the general mood of the market to get out of the downward spiral in the past months. But investors' forums look nervous again, expecting a corporate update. Also, there are those who propose riding out the drop in LATF with a small position, as the ticker is pressured by short sales. Still, there is time to check if the legalized marijuana index is indeed so easily profitable, and if LATF will start marking earnings from several cannabis-related activities.TDEY0513.png

The opinions at Yahoo! Finance message boards are also polar, with one side predicting LATF would be brought down to $0.0025 by short sellers within weeks, while others believe the depression is temporary and caused by the general jitters in the marijuana sector. What is presented as the most serious setback are the SEC measures to suspend overly-active, overpromoted marijuana stocks.

What spoils the game for LATF are all the doubts that this is not really a marijuana company, except in the press releases, and that the partnerships are just used to create PR hype.

But there are even more blatant stories, such as 3D Eye Solutions, Inc. (OTCMKTS:TDEY), the company that switches identities often to make use of hot trends. The latest mention of a potential partnership in the legalized cannabis sector revived the flagging stock of TDEY, but the ticker sank back again toward $0.0012. TDEY is also burdened by a scandal surrounding its CEO Ed Vaksers, concerning the theft of artwork. Also, TDEY was heavily promoted by PR and emails, thus bringing the stock price to unsustainable levels.

And just when penny prices and a booming trend were envisioned for USA Real Estate Holding, Co. (OTCMKTS:USTC), the ticker sank on heavy selling again, toward $0.0013. USTC is yet another company that switched from real estate to legalized marijuana, without being a licensed seller or producer. Unfortunately, USTC came to the attention of investors a bit late, when the enthusiasm about MMJ stocks had already fallen.

While LATF is not in the Marijuana index anymore, the marker shows the still gloomy sentiment of the sector. The index is down about 5% again on the day, sinking below $4 at a slow rate. More companies were in the green, the biggest grower being Easton Pharms, Inc. (OTCMKTS:EAPH), going up 24% to $0.02. Several of the suspended tickers, including Growlife, Inc. (OTCBB:PHOT) were removed from the industry-wide index.

If you decide to place your bets on LATF, keep in mind that the shares were at triple-zero positions only a few months back. Avoid over-investing in this selection, as there is plenty of room for further falling.

Comments 7

1. Guest
May 14, 2014, 10:03PM

Quotes Promises and LOI's that never will and never has come to fruitions. Their next venture will be Bitcoins or pumping unaudited financials again.......UNAUDITED FOLKS!!!!!

2. Guest
May 14, 2014, 10:01PM

Quotes LATF has billions of shares authorized. Don't believe the HYPE! Tons of bagholders from .01 trying to get you to buy so they can get out. Only for daytraders and insiders of the penny scam.

3. Guest
May 14, 2014, 08:31AM

Quotes LATF is one of the few penny stocks with a "REAL" multi-revenue stream. A solid and successful history in the food business and is now entering into the Cannabis sector. The bashers want you to believe this is just another company that jumped in to Cannabis for the hype factor. Only the strong will survive and LATF is moving in the right direction. Bashers have to eat but with LATF they will end up eating CROW. Cannabis is here to stay and so is LATF.

4. Guest
May 13, 2014, 10:37PM

Quotes Vietnamese SCAM(LATF) everyone fell for it. Funny stuff, always have and always will be a penny stock with SH(T! SEC is knocking on their door next.

5. Guest
May 13, 2014, 04:49PM

Quotes like your articles, but am starting to loose interest.

6. Guest
May 13, 2014, 01:04PM

Quotes Better article, you left out many of the previous negative assumptions. One point, LATF is in the food business , its edibles acquisitions provide synergy to the company. This business should help its bottom line. The founder of Global, Mr, Vu Le, was in the seafood import/export and automobile businesses. The new management decided to focus on the food business, this was the reason for the name change to Latteno not because it enter the MJ edible segment.

7. Guest
May 13, 2014, 12:30PM

Quotes Don't think LATF would have opened an office in Denver at 7900 E. Union Ave. if they weren't serious about pursuing the marijuana industry. LATF will be back in the .01 range as soon as they announce that they have been approved for the Colorado License they had applied for. Get it while it's still down, because it just might be the next PR.

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