U.S. stocks rallied on the open on initial optimism stemming from a potential for Greece, but we won’t hold our breath on Greece. Recently, we have noticed the strong U.S. dollar and the weak oil translating to weak U.S. stocks. However, today the U.S. dollar was strong, oil weak and stocks rallied. The S&P 500 gained 1.09% to 2,069.
This market is starting to feel like “Waiting for Godot” as many seem to be sitting on the sidelines or selling existing positions, waiting for better opportunities. The flickers of bullish sentiment are short lasting as the bear continues to control the market to the downside. It will be interesting to see how the public markets welcome some of the upcoming companies, such as Indoor Harvest and MassRoots.
Daily Positive: Blue Line Protection Group (OTCQB: BLPG) announced it is expanding security solutions for Medicine Man’s cannabis dispensaries and grow facilities. Annual revenues from this relationship will result in an increase from $194k to $390k.
Daily Negative: BLPG has traded with abysmal volume since its DPO. There are concerns about the viability of the business and the elevated market cap has been a headwind since day one. However, the market cap has improved as its price is down significantly over the last several months. Volume is still close to nonexistent as the one way trade to the downside continues.
Here we go again with U.S. attorneys trying to shut down legitimate and state law abiding dispensaries again. Seriously? Get a life and get some compassion and take some time to understand the plant.
It seems some people cannot shift their perceptions to see the potential benefit of patients having access to cannabis. The Surgeon General has noted the potential helpful aspects of the plant. Similarly, the American Academy of Pediatrics also revised earlier opinions to be more amenable to the inclusion of cannabis as an option for treatments.
The key to all of this is to have more research around the plant and the potential maladies it can alleviate or cure. The investment community is helping to achieve this, as some of these investable companies are aiming to keep researching the way the plant grows and the various compounds within the plant. If the government won’t lead the research community, the private sector is willing to take it on for the growth of our investments and for the betterment of society.