These companies are starting to make headlines in a strange way. They are in the game of funding the marijuana industry with blockchain technology. Weed coin is available on exchanges now, and the ICO launched for a market cap of $60,000,000.
Because these two topics are so 'hot' right now, the consolidation behind this stock seems poised for some gains. The previous trend was up, the stock is consolidating in a symmetrical , breakout should occur soon.
A pump and dump stock, or a dead company, completely switching strategies to compete in two of the most commonly cited high risk/yet high reward industries, successfully acquiring it's 3rd company this year, created the need for me to look into charting a trend pattern analysis.
As you, I am highly skeptical of a long term hold on a company like this also, so let me rephrase my long. Look for a buy in, look for a break in the trendlines, and set a quick sell limit as this will likely continue to pump and dump until (or if) it legitimizes itself as a profitable company.