SinglePoint, Inc. (OTC Pink: SING) is engaged as a mobile marketing and cannabis company. Shares of the marketing firm are dropping 8.70%, through early trading on Wednesday, April 19, 2017. Over the past month, SinglePoint, Inc. has seen average daily volume of 4.48 million shares. However, volume of 1.03 million shares or dollar volume of $53,045, has already exchanged hands on Wednesday.
Shares of the marketing and cannabis company are facing pressure today, after the company recently released a corporate update. Management says they recently had the soft launch of the company’s completely redesigned website, which now featured email alerts, tear sheets, and various other information. Furthermore, the company notes that its marijuana business is continuing to see strength and its acquired stake in Convectium could generate revenues for the company in 2017. Here is the full press release detailing of the corporate update:
SinglePoint, Inc. Press Release:
SEATTLE, WA–(Marketwired – Apr 17, 2017) – CFN Media Group (“CannabisFN”), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article that discusses the advances SinglePoint, Inc. ( OTC PINK : SING ) has made in growing its business over the past several months, the resulting increase in media attention, and some upcoming catalysts for the company.
SinglePoint, Inc. recently announced the soft launch of its newly designed website, which provides investors with easier access to e-mail alerts, tear sheets, and other information. The company has also seen a dramatic increase in media exposure over the past several weeks. For example, CEO Greg Lambrecht was quoted in a recent Forbes article discussing President Trump’s impact on the cannabis industry.
“The current administration has made it very clear they would like to empower the states and Trump has even stated his belief in how medical marijuana can help people. We believe the administration will stick to their word on empowering the states. In Phoenix we have many medical shops, none of which have relayed to us that they are being impacted yet by the administration. The biggest impact the current administration can have in favor of cannabis in the near term would be to give guidelines on how this business can be banked.” – Greg Lambrecht via Forbes
SinglePoint, Inc. CEO Greg Lambrecht has made several appearances on Donald Baillargeon’s MoneyTV program, where he has discussed the company’s recent developments and upcoming plans for the coming months. In the most recent episode, Mr. Lambrecht indicated that the company expects to announce a new joint venture and acquisition over the coming weeks.
The company could also begin reporting more significant revenue following its acquisition of a stake in Convectium, which is a revenue-generating company that expects to reach $3.5 million in sales during FY2017 — an increase of 150% over its FY2016 revenue. These strong growth rates could also pave the way for further revenue growth in FY2018 and beyond as cannabis brands embrace its innovative oil filling machines.
Please follow the link to read the full article:
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two.