On Monday, oil prices fell to a four-month low after a sharp decline in Chinese stock markets and on more evidence of a worldwide oil supply surplus that has cut prices in half over the last year. Chinese stocks declined more than 8% on Monday, the largest one day fall in eight years, among renewed fears about the future for the world’s second-biggest economy. Carsten Fritsch, senior oil market analyst at Commerzbank in Germany stated, “Today’s oil price fall has been driven by the slump in Chinese stock markets.” Now with that being said, there is one sector of the market that has been able to thrive throughout these rough global economic issues and that is the Cannabis space. Cannabis stocks have begun to draw even more attention from investors as companies such as FBEC Worldwide Inc (OTCMKTS:FBEC), mCig Inc (OTCMKTS:MCIG) and Medical Marijuana Inc (OTCMKTS:MJNA) have made strides throughout these summer months.
FBEC Worldwide Inc (OTCMKTS:FBEC) a beverage company with intellectual property formulas and marketing capability for the production and distribution of proprietary beverages including H.E.M.P.™-branded energy shots and drinks and nutraceutical supplements recently up-listed to the OTCQB. The company has set its target to be trading on the NYSE by next year 2016. The company is set to release its first HEMP infused energy shot called the WolfShot August 1st of this year. Since the beginning of May FBEC has seen an increase of 2233.33% from lows in May of $0.006 to highs of $0.14. The stock is seeing consistent price levels between $0.09-$0.10 the last couple of weeks.
mCig Inc (OTCMKTS:MCIG) a leading provider of technology, products, and services for the global medical and legal recreational cannabis industry, released news on Monday announcing that the company is now offering a wide range of financing services for cannabis dispensaries and growers. The program is set up for businesses that have been rejected for conventional bank loans due to federal laws. “It was clear that our customers needed capital to grow, so we partnered to fill a missing component that will complement our existing offerings and make it easier to close a sale,” stated Paul Rosenberg, CEO of mCig. The stock is currently trading between $0.052-$0.055.
Medical Marijuana Inc (OTCMKTS:MJNA) a leader industrial hemp innovator along with SmallCapVoice.com, Inc. (SCV) announced on Monday that there is a new audio interview with Medical Marijuana, Inc. available on the smallcapvoice website. President and CEO of the company Stuart W. Titus says, “We are excited about the progress we have seen in several of our key business lines. For many, 2015 has been a tumultuous year in and outside of the markets, but we at MJNA have been able stay focused on the goals we laid out earlier in the year and I am pleased to be able to share that progress with our investors in this audio interview at SmallCapVoice.com.” MJNA is seeing lower price levels since mid May trading at levels between $0.0395-$0.0499 over the last few weeks. These lower price levels may present a good entry-level opportunity for investors.