Mississauga, ON -- (SBWIRE) -- 09/02/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "mCig Reports Strong Fiscal Year 2016 Results."
Companies mentioned in this article include mCig Inc. (OTCQB:MCIG).
Equities are trading higher after the all-important non-farm payrolls data was released. The U.S. Labor Department released the data this morning, and the all-important figure was below analyst consensus. The reason why the data is being closely watched is that it could decide whether we see a rate hike from the U.S. Federal Reserve in 2016.
Last week, the Fed Chair Janet Yellen had hinted at a rate hike in 2016, given the ongoing improvement in the labor market. With the labor market data largely regarded as soft, the rhetoric of a September rate hike has been tempered. Raising interest rates after all would be negative for equities and hence the joyous stance from investors with the broad markets in rally mode. Remember that equity valuations are at record high levels. However, based on fundamentals, the current valuations are not justified and only rising based on monetary policy stimulus measures.
Even though trading activity is higher today, there are some stocks that can't seem to get out of their own way. One such stock is mCig Inc. (OTCQB:MCIG). mCig is a Beverly Hills, California-based company engaged in the business of marketing and distributing electronic cigarettes, vaporizers and accessories under the mCig brands. The Company manufactures and retails the mCig, a loose-leaf electronic vaporizing cigarette (eCig). It also maintains an investment in Vapolution, Inc., which manufactures and retails home-use vaporizers, such as the Vapolution 2.0.
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