Oil took a hit Tuesday after a historic nuclear deal between Iran and six major powers was signed. But analysts are warning the commodity’s price could stay lower for longer. The landmark agreement foresees economic sanctions on Iran lifted in agreement for it cutting its nuclear ambitions. As a result of this deal, Iran will now be able to rejoin the world economic stage and export its goods including oil. Iran’s foreign minister Mohammad Javad Zarif stated, “I believe this is a historic moment. Today could have been the end of hope, but now we are starting a new chapter of hope.” With everything going on globally between this new deal with Iran, Greece avoiding defaulting on loans and China still facing economic hardship U.S stocks particular in the rapidly growing cannabis space have yet to feel the effects of these global dilemmas. Companies in the cannabis space such as Vapor Corp (NASDAQ:VPCO), FBEC Worldwide Inc (OTCMKTS:FBEC) and CannaGrow Holdings Inc (OTCMKTS:CGRW) have really gained traction as of late.
Vapor Corp, a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs has seen an significant increase in volume over the last 10 days has been the driving force of the impressive price run VPCO has seen. This marijuana stock has seen a staggering price run of 725% from lows last week of $0.24 to highs on Tuesday of $1.98.
FBEC Worldwide Inc is an innovative beverage company dedicated to offering proprietary products focused in target US and international markets. The company was recently featured in Jim Cramer’s, TheStreet.com discussing the profitable opportunities with trading HEMP products. The company is developing an energy-shot-sized product, WolfShot H.E.M.P., which is set to launch in August of this year. FBEC has seen impressive price run over the last 60 days, with share prices increasing from $0.004 to as high as $0.14 on June 29. Last week the CEO issued a shareholders update and had this to say, “The second half of the year is shaping up to be full of corporate milestones that I believe will quickly see the Company progress into becoming a leading brand and producer of hemp infused products.”
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CannaGrow Holdings Inc, a liaison and consultant providing turnkey solutions to licensed marijuana growers, announced Tuesday morning that the company has appointed TV personality Cheryl Shuman as Senior Business Development, Public Relations, and Marketing & Media Strategist. Her role will focus on developing and expanding the company’s reach with the investment community through public relations and different marketing and media programs. The company CEO had this to say about Shuman, “We are excited to be working with one of the most recognizable faces in the cannabis industry and creating even more awareness for CannaGrow.” CGRW surged 144% from last week of lows of $0.25 to Monday’s high of the day $0.61. The stock is currently trading between $0.58-$0.61.