If a stock falls sharply it does not meant that the stock has to be avoided at all costs. Thoughtful investors often look into it as an opportunity to pick up a stock after a sharp correction as well. However, at the same time, it is important to look at the company closely, check out the latest developments and then figure out if a recovery might be on the horizon or not.
One of the stocks to have suffered from a heavy selloff on Friday was that of Marijuana Strategic Ventures Inc (OTCMKTS:MSVI). The stock tanked by as much as 17% on Friday and this morning investors are going to be looking for a possible recovery. However, it should be noted that there was no news on Friday about Marijuana Strategic Ventures that might have led to the selloff.
Trading Data
On Friday, MSVI stock slid 17% to $0.1075 with 221K shares, compared to its average volume 117K shares. The stock moved within a range of $0.0911 – 0.1400 after opening trade at $0.11.
Marijuana Strategic Ventures, Inc. (OTC: MSVI) Announces Updates for Mushrooms, Inc., Health Product Production, Provisional Patent and Business Plan Development
The last time, the company had been in the news was back on July 28, 2022 when Marijuana Strategic Ventures shared specific industry highlights with regards to the industrial mushroom market. The highlights were shared by the company with the view of boosting the awareness of investors. It should be noted that Marijuana Strategic Ventures is now simply known as Mushrooms Inc.
However, at the time of the announcement the company’s name had not been officially changed and the ticker symbol of its stock remained unchanged as well. The name change had been affected in order to reflect the company’s new direction as a business. Marijuana Strategic Ventures had decided to make a move into the potentially lucrative industrial mushroom market, functional mushrooms and other innovations related to the industry. The press release on July 28 had been published in order to provide investors with the potential of the new direction taken by the company.
GRN Holdings Corporation, Inc. (OTC: GRNF) Announces Name Change to Marijuana Inc., New Management and Business Model
One of the things that the press release spoke about was about the creation of mycelium like fabrics from mushrooms which could be compared to leather with regards to texture. The innovators in the mushroom industry are looking to create mycelium which could be used to replace items like Styrofoam, which are single use products.
Marijuana Strategic Ventures noted that investors have already started showing an interest in that product and financial support has been provided to those who are involved in the mushroom innovations industry. For instance, mycelium packaging has already been incorporated into the packaging plans of highly recognizable companies like Dell Computers and IKEA among others.
Marijuana Strategic Ventures further pointed out in its press release that not too long ago as much as $750 million in total investments had been put into 3 privately owned companies involved in the industrial mushroom business in the United States. It should be noted that the market is still at the nascent stages and has only been in existence for 10 years. Hence, the potential for development could be considerable on the years to come. It may be a good idea for investors to keep an eye on the Marijuana Strategic Ventures stock.
