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Obama Gives The 'Green' Light To Banking Industry
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Hi Everyone & Welcome New Subscribers,
We hope all of you are having a nice weekend, and enjoy an extra day off tomorrow with U.S. markets closed in observation of Presidents Day. The current President (Barack Obama) made the decision Friday afternoon to allow banks to accept funds from legal marijuana dealers, which is another big step for the industry.
Read this article from the Washington Post, HERE, which outlines the President's decision well.
This is an excerpt from the article:
"For the first time, legal distributors will be able to secure loans and set up checking and savings accounts with major banks that have largely steered clear of those businesses. The decision eliminates a key hurdle facing marijuana sellers, who can now legally conduct business in 20 states and the District."
This announcement caused an almost immediate reaction in the market, causing most stocks trading in the marijuana sector to surge into Friday's close.
We would expect this news to become more widespread over a holiday weekend, and could lead to a green Monday for stocks in the sector.
Here are the stocks we're keeping on closest watch for tomorrow:
1. PHOT - Growlife, Inc.
2. MJNA - Medical Marijuana, Inc.
3. TRTC - Terra Tech Corp.
4. ERBB -Tranzbyte Corp.
5. LATF - Latteno Food Corp.
Keep a close eye on these tickers Tuesday morning & remember that markets will be closed tomorrow (Monday).
Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. I have seen all the things that are done under the sun; all of them are meaningless, a chasing after the wind. Only trade for the sake of trading.
