Fusion Pharm, Inc. (NASDAQOTH:FSPM)

CAPS Rating: No stars

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Member Avatar jed71 (97.89) Submitted: 6/11/2014 2:59:23 PM : Underperform Start Price: $0.99 FSPM Score: +98.39

See TSIF’s pitch below. Odd, it seems I never wrote a pitch on this one. I love making fun of the Cannabis stocks so it’s a bit strange that I never commented. Oh well, I must’ve forgotten I had selected it.

If you need a reason to give it a red thumb, here are three quick ones off the top of my head:

1. The SEC recently suspended trading.
2. So it’s now trading on the grey markets, which is never good for any stock.
3. According to the company’s latest filings, they have recently (beginning of 2014)converted $26.7K in debt into 2.67MM shares. So the company values its shares at approximately $0.01 each. Just a bit lower than it's current traded price.

Given it is trading at $1.15 as of this pitch, I am pretty sure this is a safe long-term down thumb.

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