In the last trading session, the stock price of Singlepoint Inc (OTCMKTS:SING) gained more than 2% to close the day at $0.0656. The gains came at a share volume of 10.65 million compared to average share volume of 28.78 million. After the recent gains, the market cap of firm stands at $42.53 million. More recently, NetworkNewsWire reported the publication of an editorial highlighting company and its growth plans.
The published article highlighted that it’s no surprise established sector operators and even new startups, many of whom are engaged into a single revenue-generating vector, are considering about wisely branching out the way Singlepoint has done over the preceding year. Such kind of a diversified acquisition strategy possess the potential to accelerate revenue growth by advancing a robust set of revenue streams, and to gain a more solid and dominant overall footing within the market.
Instead of working as an isolated cultivator, cannabis medicines developer or equipment supplier, why not put together a series of established, profitable entities of such types and become a real powerhouse firm in this seemingly rapidly growing and unstoppable industry.
The article stated that it is noteworthy to observe the way Singlepoint has advanced so quickly, advancing from a main emphasis on latest payment know-hows and full-service mobile technologies using the firm’s SingleSeed subsidiary unit, to a full-fledged holding firm specializing in buying small to mid-sized firms, and thus sensibly layering up lucrative, parallel interests in the buzzing cannabis business.
Singlepoint has grown to a publicly traded holding firm from a mobile technology provider. By opting for moving into horizontal markets, the company has been building its portfolio. It has been acquiring a stake in undervalued subsidiaries, hence creating a rich, diversified holding base. In association with its subsidiary firm SingleSeed, it is providing services and products to the cannabis industry.