Anything Technologies Media (PINK:EXMT) Still Bought Like Hot Cakes
Hydroponic systems are supposed to make plants thrive and grow, but for now they manage to grow the stock and trading volumes of Anything Technologies Media ( PINK:EXMT ). While the volumes on Wednesday were record, the movement on Thursday came a close second. With a long weekend to reflect, the stock is poised for changes and warrants more attention. The ticker added 40% to a price of $0.0049. The pink sheet has long tried to make success as a holding, taking up any business model, and finally landed on the supply side of the medical marijuana industry, trying to profit from sales of growing equipment. This is not unusual for small cap companies, given the bubble in marijuana stocks. But let's see how the holding's fortunes line up: Current assets: $1,798 Current liabilities: $777 thousand Quarterly revenues: $70 thousand Quarterly net loss: $130 thousand The above reports are only before the OTC markets, as this company does not share its information with the SEC. But the fundamental data from a very diverse business model are quite irrelevant, since a paid promotion is the main reason behind the disproportionate interest in this pink sheet. The latest bait for investors are the two press releases from the past days stating EXMT will be partnering with Quaestus Advisors to form a new company, Whole Earth Systems, and introduce to market hydroponic systems to grow vegetables and possibly marijuana plants for medicinal purposes. This shift in business is intriguing, given that just a few weeks ago EXMT tried its hand at the Asian gaming market, with still unknown results. Penny Stock Crowd is the latest deliverer of optimistic news on this ticker, and one has to be cautious when listening to such voices. This pumper has a long history of picks touted as phenomenal climbers, which fall very soon after the emails stop. Even at its current double-zero levels, EXMT could continue to fall to even smaller factions of a penny, wiping out a large percentage of investments. The medical marijuana industry has been through thick and thin in the past months, rising on promotions and falling soon afterward. More solid players keep their ground, but smaller companies drop deeper, or become speculative bets with wild daily swings. Growlife Inc. ( OTC:PHOT ) is a fine example, spiking sharply on promotions in February, only to be defeated by selling. Despite the promise of the sector, be aware of the potential for losses and plan accordingly.