(MENAFNEditorial)
From Bob Marley branded marijuana to cannabis sweet treats medical and recreational marijuana is taking the country by storm. According to a report from Greenwave Advisors the marijuana industry could be worth upwards of $35Billion by 2020 if legalization pushes ahead to the federal level. Greenwave assumes 12 states plus DC will have legalized recreational marijuana in that time with medical marijuana markets in 37 states. That potential has attracted investor interest and even though there have been uncertainties in the marketplace marijuana stocks continue to gain ground both at a national level and globally.
Umbral Energy Corp. (UMB.V) (OTC:UMBBF) for example recently adjusted its business model to focus on the marijuana industry in Canada. The Company purchased 50% of a private company PhyeinMed Inc. which will fully own 13 acres of land with 10500 sq. ft. of buildings suitable for growing and storing marijuana. For the stock it may be a better time than others to look for opportunity. A mid-September rally saw prices top out at $0.11. Since then it has returned back to its previous support level of $0.06. Investors appear anxious to know more about this recent acquisition and how the Company will capitalize
(for more information on UMB.V and related companies please visit http://investornewssource.com/market-scan/'symbol=umb.v)
Creative Edge Nutrition Inc. (OTC:FITX) continues to work toward climbing out of a rut. For nearly 3 straight months the stock has tumbled and after falling to lows of $0.0113 the stock has been on a steady rebound. Yesterday Creative Edge battled moderate selling and ended up closing the day at $0.0288 (just 0.0002 shy of Monday’s close). CEN Biotech Inc. has submitted an application to become a licensed producer of dried marijuana for medicinal purposes in Canada and has received a ready-to-build approval from Health Canada.
(for more information on FITX and related companies please visit http://investornewssource.com/market-scan/'symbol=fitx)
Endexx Corporation(OTC:EDXC) has taken a unique approach to investory management for the cannabis industry through its most recent announcement. Earlier this month the company announced that it has signed an agreement with Vuzix Corporation (OTCQB: VUZI) intended to create and a compliance based solution with an application for its Smart Glasses. "We look forward to fully integrating this new compliance solution into our m3hub" said Todd Davis Founder and CEO of Endexx Corporation. "Working with the Vuzix team and wearable technology is creating cutting-edge solutions and improvement to our existing "Seed to Sale" platform. The medical marijuana industry is highly regulated and compliance is especially critical. With implementation of the Smart Glasses and our proprietary application it will set us even further apart from other companies and put as at the forefront of the industry. As we look to develop our infused edibles or Cannsumables we also will rely more heavily on the technology that Vuzix has created." Since mid-October Endexx has actually gone in the opposite direction compared to the marijuana industry’s down trend. Over the last month the stock is up more than 40% after Tuesday’s close at $0.0579.
(for more information on ENDX and related companies please visit http://investornewssource.com/market-scan/'symbol=endx
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