Cannabis Sector Builds Toward US Election Day 2016 PPS Rally
Date : 10/19/2016 @ 10:32AM
New York, NY – October 19, 2016 – Wall Street Corner Report
State legalization is reaching critical mass and this November, five more states (California, Arizona, Maine, Massachusetts, and Nevada) have recreational marijuana on the ballot and three more states (Florida, Arkansas, and North Dakota) have medical marijuana on the ballot.
California alone could be a massive boon for cannabis sector companies. Polling by UC Berkeley recently showed near two-to-one (2:1) support in the state of California for Proposition 64 passing. California is the most populous state in the US and has the world's sixth-largest economy with a gross domestic product of about $2.5 trillion.
On September 8, 2016, right after Labor Day weekend, Wall Street Corner Report published a report surveying the entire cannabis sector and indicating our belief that the sector was ripe for a news triggered rally. The coming US Election Day 2016 on November 8th looks like it could be that trigger. And we don’t seem to be the only ones that think so.
The Marijuana Index
(www.marijuanaindex.com)
TOP SECTOR PERFORMERS POISED TO BENEFIT FROM CALIFORNIA PROP 64
The sector overall is picking up volume and seeing higher share prices. Two of our favorites have been leading the sector in recent weeks. Puration, Inc. (PURA) is up over 100% in the last month to $0.01 on healthy and higher than average trading volume. North American Cannabis Holdings, Inc. (USMJ) is up over 500% to $0.0005 with trading volume measured in number of shares and number of dollars both within the top 1% of all OTC Market quoted companies. Cannabis Science, Inc. (CBIS) is another top sector performer up 100% to $0.05 on high volume trading. CBIS is headquartered in California and USMJ and PURA have just announced opening offices in California in anticipation of Prop 64 passing.
USMJ OUTLOOK
USMJ is triple zero priced stock but the only one of the three mentioned here with revenue at this time. The Company just reported 23% annual growth to over $500,000 in annual sales. USMJ has also announced a shareholder of record date for a dividend set for this Friday, October 21, 2016. USMJ’s business stands to benefit tremendously from legalization in California. As a triple zero priced stock, USMJ could deliver near term ROI reaching of 2000% with the PPS reaching $0.01.
PURA OUTLOOK
PURA is a low priced stock at only $0.01 today. The Company has a low float with less than 100 million issued and out. The PURA business also stands to benefit tremendously from legalization in California. We believe the PURA PPS could reasonably go north of $0.10, and potentially even higher delivering over a 1000% ROI.
CBIS OUTLOOK
CBIS is a fully reporting company with audited financials but still pre revenue today. Any advance announced in the ongoing development of the Company’s intellectual property surrounding the treatment of neurobehavioral disorders is likely to send the PPS higher. A revenue contract could send CBIS share prices into the dollars.
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