Before the opening bell, Singlepoint, Inc. (OTC: SING) was announced as a featured company on this week’s episode of MoneyTV with Donald Baillargeon. MoneyTV is an internationally syndicated television program about “money and what makes it happen.” The show includes informative interviews with company CEOs, offering prospective investors insight into their operations and outlooks for the future.
To view this week’s program, visit www.MoneyTV.net
In the interview, Greg Lambrecht, chief executive officer of Singlepoint, commented on the recent movement of the company’s stock, which has recorded above-average volume throughout much of the past two months. On November 4, in particular, Singlepoint’s volume climbed to 22.6 million. For comparison, the company’s average 30-day volume prior to this spike was roughly 4.35 million, according to OTC Markets. Singlepoint’s price per share recorded a similar spike in mid-November.
“We’ve had enormous response from funders, not only in New York but across the country, that are interested in investing in Singlepoint and also interested in helping us with some of our acquisitions,” Lambrecht stated in reference to the company’s recent volume. “We are in the process of looking at a couple of different funding deals and a couple of different acquisitions. It’s a very exciting time right now.”
One driver behind rising investor interest surrounding Singlepoint could be its ongoing forays into the legalized cannabis industry. In early November, the company announced plans to reawaken its SingleSeed subsidiary in order to gain access to the domestic cannabis market, which is projected to climb to $50 billion by 2026, according to data from financial services firm Cowen and Co. In line with these efforts, Singlepoint has recently turned its attention toward broadening its presence in the nation’s cannabis markets ahead of an expected resolution to the industry’s long-standing banking problem.
“One of the things we’re doing, we’re spending some money on really making our SingleSeed website live. That’s SingleSeed.com, and it is specifically set up for dispensaries,” Lambrecht told host Donald Baillargeon. “We’re turning that on to allow people to go in and sign one of our agreements and start to get our text message marketing, which is legal now, and sign up to get a terminal when it’s opened up.”
Lambrecht concluded the MoneyTV interview by taking a look at the current regulatory environment surrounding the cannabis industry. With President-elect Donald Trump having previously suggested plans to leave the regulation of recreational marijuana in the hands of individual states, Lambrecht predicts that it’s only a matter of time before a decision is made to give legal cannabis operations access to financial institutions and electronic payment solutions.
“A congressman from California has already written the Trump administration asking for a meeting,” Lambrecht concluded. “Basically, he’s saying, ‘Hey, California is opened up. These dispensaries need to have a bank account.’ So that, with Florida and Massachusetts, I think the pendulum has swung to where they’re going to let these dispensaries have bank accounts. When that happens, that’s going to be very exciting for Singlepoint.”
For more information, visit the company’s website at www.Singlepoint.com
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