After posting a hefty rally, TOTALLY HEMP CRAZY (OTCMKTS:THCZ) decided to shed some gains. After rallying high following the receipt of coverage from media portals such as CNN Money, the company’s stock slipped 4.12% to $0.128 yesterday. But, later the stock retreated near earlier levels after posting a 3.88% climb to $0.133. The average volume of shares traded stood at 13.59 million shares.
One or only one
TOTALLY HEMP CRAZY (OTCMKTS:THCZ) gained traction after its Rocky Mountain High Hemp Lemonade was rated number 1 in New release category by Amazon.com. Also, the company has been actively releasing press releases informing shareholders about its progress on getting on Amazon. Therefore, getting crowned as number 1 within days of its launch on the online retailer’s platform is taken extremely positive. However, a broader analysis of the company’s real success reveals interesting information.
The company’s Rocky Mountain High Hemp drink has no competitor on the platform. The remaining two contenders have less similarity in terms of ‘cannabis’ content as against the company’s drink and hence Rocky Mountain High is the obvious product to get to the top position. Too much attention to the company’s success on Amazon has buried its negatives under the ground. TOTALLY HEMP CRAZY (OTCMKTS:THCZ) lack robust financial background as its assets and revenues are at the bottom while its short-term debt is piling up.
When other products will come
The company has launched just Rocky Mountain High Hemp Lemonade out of the three promised products in December. Moreover, the company said that it is planning to roll out wine based alcoholic beverage range by mid-spring of 2015. Despite the promises, the progress made by TOTALLY HEMP CRAZY (OTCMKTS:THCZ) is very slow, and it might take longer than expected for its products to finally come into the market. It could be said that the stock is rallying purely on the basis of high expectations, which are yet to be fulfilled.