It has not been a particularly great time for cannabis companies in recent times in the stock market and one such company is 4Cable TV International Inc (OTCMKTS:CATV).
The company, which is involved in cannabis based products industry, has seen its stock tank considerably in recent days. Yesterday, the stock went down by another 37% and took its losses for the past week to as much as 65%. There has been no material news about the company in recent days but it might be a good move to perhaps take a look at certain developments from back in April this year.
At the time the company announced that it filed its annual reports for the years 2015 through to 2018 in addition to all other pending disclosures.
That was a major development for the company considering the fact that it is going to help 4Cable in becoming far more transparent with its shareholders. It should be noted that at the time of the announcement, the company had also announced that it was going to hire the services of a PCAOB firm which was going to be responsible for making 4Cable a fully reporting company on the OTC Markets.
On Monday, CATV stock plunged 37% at $0.0076 with more than 393.09 million shares, compared to its average volume of 17.32 million shares. The stock had moved within a range of $0.0067 – 0.0120 after opening the trade at $0.0120. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0480.