Home Financial Markets Penny Stocks Did Something Cause Minerco (MINE) Stock To Rise 40% On Monday?

Did Something Cause Minerco (MINE) Stock To Rise 40% On Monday?

Minerco Inc [OTC Pink: MINE] stock boomed at the previous close, soaring 40.68% to $0.0083. Contrasted with the average daily volume of 409.58M, MINE stock recorded a Volume of 636.32M in the last session. Over the last 52 weeks, the Minerco stock has fluctuated in value between $0.0001 and $0.0225. Its stock has risen in response to news of an acquisition.

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The acquisition deal:

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As the pioneer in the field of psilocybin mushroom production, Minerco, Inc., also known as The Magic Mushroom Company, puts out exclusive products and distribution channels. Blockchain token SHRU from MINE can be used for buying cannabis and psilocybin.

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It was announced yesterday by Minerco that it has acquired a white label CBD manufacturer WLCCO Inc. that generates almost $2 million in revenue each year.

In addition to the essential equipment, this strategic purchase will increase the production capacity of microdose psilocybin tablets by one million units daily. Minerco will manufacture Chaga and Lion Mane mushrooms as legal alternatives to psilocybin in markets where it is currently not permitted.

During the Sankofa Shareholder and Vision Summit on January 24, 2021, Minerco made four important goals public. These include retiring debt; acquire the equipment necessary to manufacture 1 million microdots daily, launch anticipated blockchain token SHRU, and acquire a U.S. location to maximize operations both domestically and globally.

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Final note:

Minerco (MINE) has announced a full settlement of its debt obligations to its EROP capital on February 16, 2021, and has launched SHRUCOIN Pay for its Blockchain token SHRU on March 1, 2021. Now with the acquisition of WLCCO, MINE has achieved three of the four goals it had laid out at the Summit.

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