About once a year or so, something comes along that defines the action for that year. In 2016, there’s no doubt what that “something” is: The cannabis craze. Marijuana-related stocks have been by far and away the biggest thing since sliced bread so far this year. The reason? Because nearly a third of the US population will be going to ballot boxes this week and voting on the future legal status of pot in America. According to recent polling, experts expect the legal sales market for pot to triple or quadruple overnight. Everything that has anything to do with marijuana has doubled, tripled, or quadrupled in the past few months. However, there’s one “pot stock” that the crowd totally missed until the company reminded the world last week that this may be one of the most interesting plays in the space. Now the crowd is starting to find SING in a big way.
SinglePoint, Inc. (OTCMKTS:SING) provides mobile technology and marketing solutions for small to mid-size businesses, nonprofits, and religious organizations. Its solutions enable clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices.
The company offers Text2Bid, a mobile bidding solution that allows users to bid in auctions from text or Web-enabled phones; Donate by Text, a solution that allows nonprofits to securely collect donations via text; Pay by Text that allows customers to pay for products using their mobile phones; and Point of Sale terminals to provide customers the convenience of using debit/credit cards right at checkout. It also provides Oomy, a solution that enables companies to track and manage their fleet vehicles, drivers, and deliveries; text mobile marketing solutions; SingleSwipe that enables customers to turn any device into a point of sale payment processor with the SingleSwipe card reader; and other solutions.
However, what really interests us is the SingleSeed segment, a subsidiary of SING focused on providing credit card processing solutions for the cannabis industry.
On Tuesday, nine states will be heading to the ballot boxes to cast their votes on the legislative future of marijuana. According to the polls, it should be an amazing day for businesses in the space.
Cowen & Co. has published research suggesting that the total legal sales footprint of the entire cannabis-related segment of the US economy may more than triple as result of the vote, taking it from $6.8 Bln to over $20 Bln basically overnight.
SING had occasion to announce last week that SingleSeed is awakening from a “quiet period” to take advantage of increased demand and legislative shifts within the cannabis market (See Full Press Release Here).
“This is an ideal time to actively engage the marketplace. A couple years ago we established a significant presence as one of the first merchant service providers targeting this industry, and we will be leveraging relations with existing clients to accelerate growth,” states SinglePoint CEO Greg Lambrecht. “Additionally, there are a number of other smaller companies in this space that, as part of our overall rollup initiative, we would seek to acquire.”
That’s an aggressive bearing, and it’s just what we want to see.
“Though banks and credit unions will not openly acknowledge whether or not they will open Cannabis operations accounts, more and more are deciding to be vocal about their acceptance, and our processor has extensive relationships in a fast-growing industry that has developed to a point where we are confident to proceed toward ramp-up on SingleSeed operations and initiatives. As we look to further engage the marketplace, we will work with our technology partners to develop apps which help protect the industry with a safe way to transact monies for business owners operating within the confines of state laws and guidelines set forth for banks by federal authorities,” adds Lambrecht.
Lambrecht concludes, “The bottom line, shareholders, is that we know this business, we have amassed a customer base in this business and we are prepared to aggressively enter this market with resources and legislation that were previously unavailable to us.”
As the marijuana marketplace transitions from black market to legitimate market, there are fortunes to be made by businesses well-positioned to capitalize on all the operational consequences of that transition. Banking and transaction processing may be one of the most lucrative niches in that process. At this point, the chart has exploded off its triangular base. But, gauging by some of the charts we see in the cannabis space right now, the movement we’ve seen so far in SING doesn’t even scratch the surface of what’s possible here. The most important moment in the history of the sector is coming up in about 48-60 hours. We expect this stock to be a serious player in that game. Get it while its hot!
What You Need To Know:
- SING just got picked up by the marketplace as a player in the Marijuana mania now gripping the OTC
- SING is one of the only plays in the banking and transaction space for cannabis-related companies
- SING is coming out of a triangular bas on massively expanding volume, which suggests larger money starting to get involved.
- SING just recorded a MACD Bullish explosion, suggesting a technical confirmation of a new trend to the upside.
Other notable stocks in the marijuana sector are General Cannabis Corp (OTCMKTS:CANN), MassRoots Inc (OTCMKTS:MSRT), United Cannabis Corp (OTCMKTS:CNAB), American Cannabis Company Inc (OTCMKTS:AMMJ), Cannabis Science Inc (OTCMKTS:CBIS), Medical Marijuana Inc (OTCMKTS:MJNA).
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