MCIG to Follow? VTCQ Broke Below 50 and 200 day MA - Bearish Short Term
Apart from the VitaStik debacle and the likely "relaunch" failure where MCIG/VTCQ has almost put the nail in their own coffin by endorsing VitaStik CEO and the ORIGINAL VitaStik - People are forgetting about the significant challenges that MCIG faces - including
Actually completing a single construction phase ON TIME and collecting revenues from an actual completion. If there are any delays, they are big time screwed (as would be any shareholders).
Just my opinion. "Construction" is the perfect concept to string along investors for at least a year because of it's longer life cycle. Paul is running out of new ideas and can only recycle failed ideas only so many times to string along shareholders and try to attract new money. Rollies is in its 3rd iteration - having gone thru Madhatter, emotek, and now Blanks.
Contracting CBD sales. -70% from last Quarter. Is that the sign of the end? MCIG has done no marketing whatsoever and has gotten rid of their only two US wholesalers - and doesn't appear to have a relationship with JustChill any more. VTCQ basically cut the throat of Sam's Vapes by declaring that VitaStiks are "knock offs" and unsafe.
Finally, MCIG has 0 MJ Dispensary Retail Accounts. Rollies can't sell. So, MCIG just has dangled pretty pictures of a supposed Rollie product. And that's it. Pretty pictures. MCIG needs sales, not more false promises.
A very daunting task considering that MCIG has sold 0 traditional brick and mortar retail accounts. They have gone from an alleged 95 boots on the ground to an alleged 5 salespeople that goes to a faux call center where noone answers the phones.
The warnings are out...and have been out for a loooong time.
Time for MCIG to PUT UP OR SHUT UP
