Owning shares of a holding company often times can provide unique opportunities to profit from non-traditional markets with great upside potential. SinglePoint, Inc. (OTC: SING), a publicly traded holding company, offers just such non-traditional upside opportunity with its foray into the burgeoning cannabis market.
Traditionally, SinglePoint has focused on mobile technology and mobile marketing by offering client-based solutions for business transactions, donations and targeted communications. The company connects client companies to target markets by providing innovative mobile technology at reasonable rates. However, SinglePoint recognized the strength and profit potential in acquiring interest in undervalued, high-growth entities in disparate markets to create a diversified holding base.
With some annual growth estimates exceeding 20 percent, SinglePoint settled on the cannabis industry as an excellent avenue of diversification and has pursued strategic opportunities to exploit this market and enhance shareholder value. SinglePoint’s innovative entry in the cannabis market came through its SingleSeed subsidiary. SingleSeed seeks to offer solutions for a perplexing problem encountered by legal marijuana businesses. These businesses, blessed by individual states as legal, still operate outside the boundaries of federal law and have limited access to the banking system. This economic zombie zone places legitimate cannabis businesses in precarious situations. The contradictory laws force all-cash transactions with customers, leading to large amounts of cash on site. SingleSeed aims to offer non-cash payment solutions to marijuana businesses that are easy to use and safer for both the companies and the customers.
Focused on innovation, SinglePoint is expanding its portfolio in the cannabis markets with the strategic acquisition of companies that profit from the cannabis industry but don’t touch the plant itself. There’s little doubt that the marijuana market in the United States will continue to flourish and is poised for explosive upside growth. SinglePoint’s strategy positions the company to maximize profit from the marijuana markets yet virtually eliminate any downside risk exposure. The company’s recent acquisition of a stake in Convectium, an innovative company with a proprietary machine that fills and packages vape cartridges and disposable vape pens at a rate of 100 per 30 seconds, is yet another step in SinglePoint’s expansion of its cannabis-related holdings strategy.
In reference to the Convectium acquisition, Greg Lambrecht, CEO of SinglePoint, stated “We have evaluated numerous investment prospects in the cannabis space, and found there is nothing that compares to this opportunity we have with Convectium. With this transaction, we will acquire a stake in a cannabis business that never touches a marijuana plant. This is the strategy we will use as we move forward to hedge us against changing federal and state laws.”
SinglePoint’s unique strategy positions the company to reap the benefits of the explosive marijuana markets while limiting the downside risk.
For more information, visit the company’s website at www.Singlepoint.com
CBDWire (CBDW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, CBDW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CBDW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.
Please see full disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer