mCig, Inc. is a company that specializes on developing, manufacturing, and distributing portable vaporizers such as Vapolution 2.0, VitaCig, mCig 2.0, and other vaporizing products. Founded in 2010 and formerly known as LifeTech Industries, Inc., the Washington-based company changed its name to mCig, Inc. in August 2013. The company aims to make its products the top choice for the electronic consumption of plant materials, waxes, and oils. It trades in the OTC market under the symbol MCIG.
As states continue to follow the lead of Colorado and Washington in terms of legalizing marijuana, mCig, Inc. is a firm believer that the regulated marijuana industry is evolving rapidly, and that a similar trend is emerging in the eCig or electronic vaporizing cigarette industry. According to analysts, electronic cigarette sales may reach $10 billion from just $1 billion in the next three years. After realizing the opportunities available in the legal marijuana industry, mCig, Inc. created a consumer product that would solve the market gap in between the increasing eCig usage trend and marijuana legalization.
mCig, Inc. utilized its extensive experience in the field of water filtration and vaporization, engineering and designing a consumer device loosely based on the electronic cigarette. The difference between the mCig and a traditional eCig, however, is that the former heats various loose-leaf herbs instead of being pre-packed with plant materials or vapor. The mCig gives consumers the option of consuming the plant materials of their choice, as not everyone has a preference for nicotine. Due to the mCig, Inc.’s innovative design, the company is positioned to be the leading device for the consumption of legalized marijuana, traditional tobacco, and other herbs.
With a very affordable price point, the mCig is not just among the cheapest eCigs around, but it is also more inexpensive than any other competing product that allows for the heating of loose-leaf herbs.
mCig, Inc. believes that as the first mover in the industry, their ability to leverage technology allows their product to be a game-changing device and will allow for a more efficient alternative to traditional cigarettes.
Yahoo! Finance: MCIG News
Latest Financial News for MCIG
JACKSONVILLE, FL, March 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- mCig, Inc. (MCIG) a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, is pleased to announce that its wholly owned subsidiary, CBJ Distributing, is expanding its sales reach by introducing to its clients in Nevada and California a new in-house developed product line of hemp pre rolled cigarettes and CBD vape pens with a proprietary terpene rich formula. CBJ Distributing saw its sales increase dramatically during the last year. The company distributes its line of cannabis supply items, such as: labels, jars, child proof envelopes, vape pens, to almost all dispensaries in Nevada, while enlarging its market share in southern and central California. After carefully analyzing the CBD market, CBJ Distributing decided to expand its product line by joining this huge opportunity of selling hemp products to smoke shops and dispensaries around the Country.
JACKSONVILLE, FL, Jan. 31, 2019 -- via NEWMEDIAWIRE – mCig, Inc. (OTCQB: MCIG) a leading distributor of innovative products, customized packaging solutions, technologies, and.
Editor's note: This story was previously published in September 2018. It has since been republished and updated with new information.
The potential to become wealthy often means investing in an enterprise when it is small and waiting for the entity to grow large. For this reason, many investors are willing to take chances on what they believe to be hot penny stocks. Investors in these stocks often lose everything … but they can also end up earning massive profits from a small amount of investment capital.
For example, Booking Holdings Inc (NASDAQ:BKNG) (formerly known as Priceline.com) traded as low as $1.08 per share in 2001. BKNG now trades over $1,982 per share. American Tower Corp (NYSE:AMT) fell to 60 cents per share in 2002 following the dot-com crash. AMT now sells for about $145 per share.
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I cannot guarantee such a comeback for any penny stock of today. The following four stocks, however risky, could be positioned for outsized gains in various industries:
### Arotech Corporation (ARTX)
Year-to-date gain: 19.25%
Arotech Corporation (NASDAQ:ARTX) functions as a defense and security services company. Despite its market cap of only $84 million, it operates in multiple countries and competes with the likes of General Electric Company (NYSE:GE) and Honeywell International Inc. (NYSE:HON) through its Power Systems division.
ARTX also serves as a defense contractor and makes products designed for military, homeland security and law enforcement purposes. Considering the Trump administration's commitment to increase defense spending, Arotech could find itself well-positioned to benefit.
However, like all hot penny stocks, this play remains speculative. Its revenues for 2017 stood at $98.72 million. Its 2014 revenues were $103.57 million, so this company has struggled with growth. Arotech was founded in 1990, and one of its divisions came into existence in 1971. Hence, the build to these revenues has been slow.
The company earned a profit of 17 cents per share in 2017. Still, profits are expected to grow to 18 cents per share in 2018 and 26 cents per share in 2019. This could indicate this company may enjoy some growth. If the company can sustain that growth and speed up its slow growth trajectory, its forward price-earnings ratio of 12.6 starts to appear very low.
### Mid-Con Energy Partners (MCEP)
YTD gain: 10.64%
Tulsa-based Mid-Con Energy Partners LP (NASDAQ:MCEP) is an upstream oil and natural gas producer. As an exploration and production company, times are great when oil prices are high. However, in an environment of low prices, revenue generation becomes a struggle.
While crude oil now traded in the $70-per-barrel range as recently as September, its highest price since 2014, oil now trades around the mid-$50s.
MCEP stock traded as high as $27 per share in 2013. The oil price slump of 2014-2016 hit its interests hard. By 2016, MCEP had become a penny stock, trading as low as 73 cents per share at one point. The stock has struggled to gain traction since then, briefly reaching $1.75, and now trades just above a dollar.
However, company financials may have begun a turnaround. Revenue fell from $96.91 million in 2014 to $56.1 million by 2016. Although revenues rose to $58.93 million in 2017, analysts estimate revenues will remain below $60 million for both 2018 and 2019.
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Whether those estimates factor in higher crude prices remains unclear. And at these levels, investors should still consider MCEP stock speculative. However, the stock remained consistently above $20 per share while oil traded above $100 per barrel. If oil can get its mojo back, perhaps MCEP stock will return to 2013 levels and become one of the Street's hot penny stocks.
### mCig (MCIG)
YTD gain: 5.8%
Las Vegas-based mCig Inc (OTCMKTS:MCIG) is a marijuana industry holding company. Once limited to vaporizers, it has transformed itself into a full-scale marijuana cultivation construction company. While they had operated only in Nevada, the company landed contracts in California and New York earlier this year.
Seeing business come in from across the country shows encouraging signs and could make MCIG one of the top marijuana penny stocks. However, financials also remain sparse. The company saw $1.72 million in revenues in 2016. This grew to $4.78 million in fiscal 2017, and the company made $1.53 million in that fiscal year. The company has brought in over $6 million in the first three quarters of 2018.
Still, investors should still treat this as a speculative play. The stock enjoys rapidly rising revenues and profits. However, MCIG stock still trades under 25 cents per share, indicating lingering investor doubts. It has never traded above $1, though it briefly reached 92 cents per share in 2014. Still, it will need to see more growth before becoming one of the hot penny stocks.
The current price stands well above the 5-cents-per-share level where the stock traded for most of 2016. If the company can continue gaining traction, its current $80 million market cap could rise much higher.
### Tuesday Morning Corporation (TUES)
YTD gain: 4.4%
Dallas-based Tuesday Morning Corporation (NASDAQ:TUES) has become one of many retailers which have struggled to stay profitable in a changing retail environment. Founded in 1974, the company expanded across the country, operating in 41 states by 2001. During the past few years, the company has been plagued by high turnover in its top management and struggled to remain profitable.
Still, the company operates 724 stores across the U.S., which by itself should make it one of the hot penny stocks. Moreover, revenue grew by 3.9% in its latest quarterly report. Comparable store sales rose by 3.8% in Q1 2019 as well. Investors should also note that the company relocated 58 stores in the last 12 months.
However, given that analysts expect net losses for both the current year and the year after, investors should still treat this stock as speculative.
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Still, a stock price in the $1.90 per share range and a market cap of about $88 million seems low for a company with 724 stores. Traders should also keep in mind that this stock traded at over $22 per share in late 2014. If management can maintain revenue increases and return TUES stock to profitability, those who buy now could enjoy outsized gains from a dramatic comeback.
As of this writing, Will Healy did not hold a position in any of the aforementioned stocks.
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Jacksonville, FL, Jan. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- mCig, Inc. (MCIG), a diversified company servicing industrial hemp and legal cannabis markets, has signed a binding Memorandum of Understanding with a California based investment firm for collaboration on growing, processing and distribution of medical cannabis under MCIG’s current licenses held within the state. As part of the collaboration, a new joint venture will strive to obtain additional licenses in multiple states, in an effort to establish a nationwide presence.
Since the legalization of cannabis in Canada, US states have been under pressure to follow suit, and many have. In this light, firms like mCig Inc (OTCMKTS:MCIG) are lining up to exploit the market, particularly in California, the most populous state in the Union by far. A recent report on the US cannabis market projects […] The post mCig Gears Up To Exploit California Cannabis Boom appeared first on Market Exclusive.