Are These Declining Stocks Strong Investment Options? Hemp Inc(OTCMKTS:HEMP) and Zendesk Inc(NYSE:ZEN)

Posted by admin August 13, 2014 0 Comment 1988 views

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Hemp Inc(OTCMKTS:HEMP) suffered a 5.66% loss in value during yesterday’s trading, falling $0.0027 to finish the day at a closing price of $0.0450. Like many penny stocks, the stock once hit a rather high mark before falling into the single cent range; Hemp’s 52 week high is $1.10, yet the stock has remained below the ten cent mark since Apr. 9th, 2014.

However, Hemp’s large increase and subsequent decline appears to have been the result of penny stock manipulation. Last week, the Securities Exchange Commission identified four individuals who had used the medical marijuana industry services provider’s stock in a “pump-and-dump” scheme. In response to the news, Hemp, which employs just four individuals on a full-time basis, applauded the efforts of regulators before referencing its legitimacy as a business.

What Does The Future Hold For Hemp? View Our Free HEMP Analysis.

Zendesk Inc(NYSE:ZEN) also saw its value decline during yesterday’s trading as the stock lost twenty-two cents before closing at a value of $22.70. That being said, the stock remains just $0.88 below its 52 week high of $23.58. The San Francisco-based software development company, which has a market capitalization of $1.64 billion, recorded a revenue figure of $29.5 million during the second quarter.

Zendesk has recently announced plans to become more active at conferences and forums. On Aug. 7th, the company announced plans to participate at both the 16th Annual Pacific Crest Global Technology Leadership Forum in Colorado and the Cannaccord Genuity 34th Annual Growth Conference in Massachusetts. These press releases came just two days after the company released its second quarter results report, indicating they were targeted to help the company maintain its upward momentum.

Should You Overlook Zendesk’s PR Stunt? Receive A Free ZEN Analysis.

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