Marijuana stocks regain ground Tuesday - mCig Inc. (OTCBB:MCIG) was one of very few marijuana stocks to regain ground Tuesday, trading at 0.705, up 0.106 (17.70%). Today's trading was a big jump from Monday's close at $0.59.
mCig Inc. opened Tuesday morning at $0.0625. By noon it had risen two more cents and by 12:24 p.m. it was priced at 0.65. By the day's close, it had reached $0.70.
The company reported Tuesday it had broken its previous sales record over a 24 hour period of $3,541.12 achieved at the end of January of this year. According to the company's press release, "..For the 24 hour period ended April 7, 2014, the company achieved sales of $28,400 marking an increase of 700% over the previous record. These sales figures relate only to products sold on mCig.org and exclude any sales achieved by Vapolution or VitaCig..."
The news comes on the heels of their unveiling of the subsidiary known as LiqCig, Inc. This venture, according to an April 1 press release from the company, will be soley owned by mCig, Inc. The ownership, according to the release, also expands before and after their VitaCig, Inc. spin-off and dividend. VitaCig is the $2 nicotine-free eCig that delivers a water-vapor mixed with vitamins and organic flavors. Reports indicate this product has not been launched yet.
LiqCig, Inc. is involved in the mobile vaporization business, researching and developing mobile vaporization apps for recreational alcoholic consumption.