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Medican Enterprises Inc (OTCMKTS:MDCN) Losing Momentum

Many people are wondering that is there anything wrong with Medican Enterprises Inc (OTCMKTS:MDCN)? If the people on the message boards are trusted, then certainly there is not a single problem associated with the company. The stock supporters claim that everything is fine with the company and the people who doubt on its performance are short-sellers or bashers.

The problems

The British Columbia Securities Commission spotted some ‘unusual and unexplained fluctuations in the volume’ and the commission was so concerned with the unusual activity that they sacrificed one Saturday so as to issue a Halt Trade order on the MDCN stock. So, people who live in British Columbia won’t be able to purchase or sell MDCN shares until April 22. The people who don’t reside in British Columbia can trade the stock which indicates that they need to decide whether the risk-reward ratio is favorable for them or not.

The direction

There is lot of excitement and hype surrounding the Medican stock on the social media and message boards. It is all because of the hype created that the stock moved in the right direction earlier in the April when it stormed out of triple-zero and surged to close around $0.02. The people touting MDCN stock price are not too concerned about the sharp decline.

The issue

The first major problem linked with Medican is the purchase of commercial land in Arizona. The acquisition was expected to close in January itself. However, the company missed the deadline and was later extended to February 18, 2015. Again, it missed the deadline and it was extended to March 31, 2015. There is no surety about when the company is supposed to end the deal and it is creating problems for Medican Enterprises Inc (OTCMKTS:MDCN) stock price. In last trading session, the stock price of MDCN declined 19.29% to close at $0.0113.

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