Argitek Holdings Inc (OTCMKTS:AGTK) has just popped back on the radar for OTC traders in a big way, as the stock boomed higher to close out last week. Sure, the cannabis space has been riding a wave of enthusiasm in recent action. But AGTK has not been a focus of much interest since August. However, that all changed last week when volume surged and the stock broke sharply above its range highs going back to April of this year. Specifically, the company just announced that its CEO, B. Michael Friedman, will appear once again as a featured guest speaker on The Fox Business Network show “New To The Street.”
According to the company’s most recent release, “the show’s broadcast will start the first week of January 2018, airing nationwide on Fox Business Network — reaching 95 million homes. Investors, shareholders and those interested in the exclusive Agritek Holdings interview may check your local cable provider’s channel lineup to find Fox Business Network and Bloomberg Television also expected to pick up the show in your area. We will announce the first airing time in the coming week.”
Argitek Holdings Inc (OTCMKTS:AGTK) trumpets itself as a company that offers various products and services to the medicinal marijuana sector in the United States. It distributes hemp-based nutritional products; and provides solutions for electronically processing merchant transactions.
AGTK is also involved in the acquisition and leasing of real estate properties, such as cultivation space and related facilities to licensed marijuana growers and dispensary owners. In addition, it offers consulting services, including obtaining licenses, compliance, cultivation, logistical support, facility design, and building services to the cannabis industry.
According to company materials, AGTK considers itself “a pioneer within the medicinal marijuana space, provides innovative patient technology and agricultural solutions within the Compassionate Care Technology for the recreational cannabis industry. Agritek Holdings, Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act, nor does it intend to do so in the future.”
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As noted above, AGTK shares have been on a rampage over recent sessions, with the only catalyst in sight appearing to be news that the company is set to be a feature of the Fox Business Network show “New To The Street” in January.
B. Michael Friedman, CEO of Agritek Holdings, stated, ” I am delighted once again to be asked by the show and to appear on The Fox Business channel to represent our Company Agritek Holdings as one of the expected leaders in our sector moving into 2018. ‘ This is truly a unique and special opportunity to tell our story and business strategy within the cannabis sector to a nationwide audience and over ninety-five million households. The interview will provide an update on our Pueblo, Colorado CBD farm and the addition of 900 acres through a negotiated purchase, our new California operations and acquisition as recreational legislation comes into play within the state and our Canadian cannabis friendly bed and breakfast opening in 2018. I truly believe our value proposition and position within the sector will continue to rise as we gain further exposure to an international audience and expand our shareholder base as we continue to execute on our ongoing cannabis property portfolio and brands.”
The chart shows more than 160% during the past month in terms of shareholder gains in the listing, but that move comes in the context of a larger bearish trend. However, AGTK has a history of dramatic rallies. Furthermore, the stock has benefitted from a jump in recent trading volume to the tune of approaching 160% over the long run average.
At this time, carrying a capital value in the market of $19.3M, AGTK has a chunk ($311K) of cash on the books, which must be weighed relative to about $486K in total current liabilities. AGTK is pulling in trailing 12-month revenues of $48K. However, the company is seeing recent declines on the top-line on a sequential quarterly basis, with revenues falling at 0% as of its latest reporting period. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $AGTK stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $AGTK, either long or short, and we have not been compensated for this article.