Players Network (OTCMKTS:PNTV) is a micro-cap name that’s recently started to roll off a little bit of a cliff as PNTV dives lower over the past few days. If you want to find a culprit, we would pin it on the stock’s reaction to the recent live webinar. If you missed the announcement, PNTV sent out word on July 28 that they were hosting a live online webinar to discuss the MJ Accelerator Program at 4:20 p.m. EST on Tuesday, August 1, 2017. According to the announcement, “Online attendees are limited to the first 100 people who RSVP.”
Brett H. Pojunis, PNTV Board Member and Co-Founder of the MJ Accelerator Program, Jeffrey Robinson, Managing Director and Co-Founder of the MJ Accelerator Program and Geoffrey Lawrence, PNTV Chief Financial Officer and Chief Compliance Officer are hosting a live online webinar to introduce PNTV shareholders and the investment community to the new business model and the flagship program of Marijuana Accelerator, the “MJ Accelerator Program.” That webinar happened on August 1. Since then, the stock has been on a straight dive.
Players Network (OTCMKTS:PNTV) trumpets itself as a diversified holding company operating in marijuana and media. PNTV owns approximately 85% of Green Leaf Farms Holdings, LLC (Green Leaf Farms) which has Nevada state-issued medical and recreational cultivation and production license(s).
The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. Green Leaf Farms is operational and has started generating revenue.
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WeedTV.com is a wholly owned subsidiary developing a social network and lifestyle channel destination for the marijuana industry. WeedTV.com is launching the “go-to” source for information, entertainment, products and services for people who relate to the marijuana lifestyle and an active social community.
Marijuana Accelerator is a division of PNTV which has established an ecosystem for the marijuana industry designed to connect entrepreneurs with investors and develop partnerships. Marijuana Accelerator’s mission is to “identify and develop ventures in the marijuana industry.
As noted above, PNTV has been sliding hard in recent days. We can only trace the move to one catalyst: a limited audience online webinar that the company gave on August 1 focused on the MJ Accelerator Program.
One might suggest several theories to explain the weakness: Either the information content in the webinar was very poor and caused some longer-term investors to start jumping ship, or the presentation level was very amateurish and created a poor impression, or the event itself and its content had been built up in advance to act as a positive catalyst into which to sell, and a sufficient level of demand was not generated by the event by insiders in the stock.
In any case, the whole sequence doesn’t bode particularly well for the stock. That said, we have already seen a hard rain here, and it might way to late for new short money to jump on board.
We’ve witnessed a bit less than -20% stripped out of share prices over the past month. That said, PNTV is a stock who’s past is littered with sudden rips. Furthermore, the name has seen interest climb, with an increase in recent trading volume of 80% beyond what we have been seeing over the larger time frame.
Now commanding a market cap of $62.28M, PNTV has virtually no cash on the books, which stands against about $257K in total current liabilities. PNTV is pulling in trailing 12-month revenues of $135K. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -9.9%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $PNTV stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $PNTV, either long or short, and we have not been compensated for this article.