For many marijuana stock investors and those looking for marijuana stocks to buy, March is a bitter sweet month. In looking at historical trends, we really only have one year to go off of (2014) with regard to any states having legal marijuana available. If you were in the market last year, you’ll vividly remember the drop in share prices that many marijuana stocks had due to stringent regulation and even stock halts. What that has created is a more savvy and informed public and on the same token, a generally more transparent group of public marijuana companies working hard to play by the rules. Many companies like Blue Line Protection Group (BLPG), Totally Hemp Crazy Inc. (THCZ) and Pharmacyte Biotech (PMCB) have been making headway in the development of their brands within this growing market.
In fact, this morning, Blue Line Protection Group (BLPG) announced that it is now fully licensed to provide its suite of protection, transportation and compliance services to clients in Nevada. This news comes on the heels of two previous announcements including the Company’s initiation of a new service agreement with marijuana-related business consultant and fulfillment company Strainwise, Inc. for marijuana protection and transportation services. Additionally, Blue Line released news that it has formed Blue Line Advisory Services, Inc., a wholly-owned subsidiary created to respond to the licensing and bookkeeping needs of lawful marijuana businesses across the nation.
“Our goal is to streamline and simplify the day-to-day bookkeeping duties these businesses face,” said Patrick Deparini, Blue Line Protection Group’s Chief Financial Officer. He continues, “By doing so, we reduce our clients’ operating costs, we help ensure their compliance with the myriad of local, state and federal regulations, and we provide them with peace of mind with our guarantee of audit protection services. Monitoring and tracking the amount of cash involved in any cannabis business — as well as complying with the myriad of laws specific to the industry — makes having an experienced bookkeeper a must.”
Since making these announcements, shares of Blue Line have maintained trading between $0.1975 and $0.25. Though the company does not necessarily sell a product, the services it provides suggest that businesses do not need to actually sell marijuana to be involved in the marijuana industry.
However, to many onlookers, the tangible assets are still looked upon as far as a retail perspective is concerned. Many marijuana companies have gone beyond simply selling parts of the plant in their raw forms and have moved on to infused consumables. Take Totally Hemp Crazy, Inc. (THCZ) for example. This marijuana stock has received an added bump in market attention this week after announcing that the first product shipment to arrive at the Tennessee AMAZON.com regional facility sold out “in a three-hour period.”
Furthermore, the product has arrived in the Pennsylvania and California facility and is now available for purchase according to the Company. Totally Hemp Crazy states that it will prepare a second shipment to the Tennessee location this week.
Over the last 4 months, shares of THCZ have moved up in price from as low as $0.0057 to as high as $0.141 representing a total move of 2,373.7%. Similar to what was seen last year, it would seem, for now, that the sentiment surrounding marijuana stocks has begun to turn positive and this can also be echoed in many segments of the market including the biotech segment.
Pharmacyte Biotech Inc. (PMCB) has begun to see an increase in both price and volume over the last week. After opening on Monday at $0.1010, the stock has seemingly begun to rally. Just before 11:30AM on Thursday, shares had seen highs of $0.13 marking a 28.7% rebound since Monday morning. In the Company’s most recent shareholder update, management highlighted several key developments including being granted the Orphan Drug designation by the U.S. Food and Drug Administration (FDA) and announced that an exclusive license to use the Melligen cells developed by Prof. Ann Simpson of the University of Technology Sydney in Australia has been obtained from UTS by PharmaCyte Biotech from UTS.
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