DALLAS, TX / ACCESSWIRE / November 11, 2016 / North American Cannabis Holdings, Inc. (USMJ) today announced that the Company has been identified by the OTC Short Report as a "Most Shorted OTC Stock." The detailed report estimates over 4 billion shares have been sold short within the last 30 days at an average weighted price per share of $0.00047. Accordingly, short sellers would have to purchase shares below this price to cover short sales and profit.
Short Squeeze Potential To Contribute To PPS Increase
On the other hand, if short sellers are not able to profit, they could be forced to buy-in making a short sale strategy backfire and instead contributing to an increase in price per share while buying an estimated 4 billion shares to cover short positions.
Revenue Growth, New Contracts and a Pending Dividend with Another In The Works
North American Cannabis Holdings has recently reported a 23% increase in year to year sales with over $500,000 in revenue. The Company has announced a number of strategic contracts and a recent dividend declaration date. A dividend payment date announcement is pending finalization of regulatory requirements. A second transaction is in the works intended to lead to a second dividend issuance.
To learn more about North American Cannabis Holdings: growusmj.com
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Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: North American Cannabis Holdings