Everything all the craziness going in Greece, which is on the verge of leaving the Eurozone, U.S stocks closed higher on Tuesday after a rocky trading day. Investors had their vision on developments in the Greece debt crisis and the beginning of corporate earnings season. The S&P 500 dropped below its 200 day moving average, which hasn’t happened since Oct. 20th before seeing trading levels as high as 15.02 points above. Robert Pavlik chief market strategist at Boston Private Wealth had this to say on the matter, “We broke the 200 day moving average … and around that time the market began to stabilize,” he also added, “the S&P also hit support levels of about 2,0145 and has rebounded back since. With that being said this whole Greece economic breakdown has not seemed to affect the booming marijuana space. Marijuana stocks have been in the spotlight this summer due to companies such as FBEC Worldwide Inc. (OTCMKTS:FBEC) United Treatment Centers Inc. (OTCMKTS:UTRM) and Sutimco International, Inc. (OTCMKTS:SUTI).
FBEC Worldwide Inc. closed on Tuesday at $0.09 seeing an increase of a modest 13%. Over the last month the company has seen a price run of over 136% from highs of $0.14 to lows of $0.059 in June. The company has solidified their space in the cannabis space over the last couple of months specifically in the beverage industry. Specializing in HEMP infused energy shot called the “WolfShot” which is set to be released in August 2015. The company has recently announced they have received ownership and rights to its hemp-based formulation that is developed by Dr. Linda Strause. Dr. Strause works for G. Randall & Sons who back in the beginning of June entered into a commercial supply agreement to develop hemp neutraceuticals. Company CEO stated, “We believe hemp-based beverages do just that and we are confident our collaboration with Dr. Strause on our soon-to-launch products with our now 100%-owned hemp-formulation will solidify our place in the market while we work to build a strong following of consumers.”
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United Treament Centers Inc. a marijuana stocks picking up steam this summer announced Tuesday, that the company recorded $1.9 million in revenues for the second quarter of 2015. This is a 30% increase from its previous quarter, which shows investors strong and consistent revenue reports. The company owns through its two subsidiaries, PotNetwork and Sunrise Auto Mall. PotNetwork Inc. has officially launched their visible on social media and CEO Richard Volpe was recently interviewed on CNBC. Over the last 90 days the company has seen gains of 100% from lows of $0.0003 to highs of $0.0006.
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Sutimco International Inc. announced on Tuesday they have completed the funding with strategic partners Canna and the City. The full details of the 8k is set to be released Friday of this week. The company CEO Jorge Luis Saenz stated, “I’m extremely excited and feel very motivated by the recent developments in our company. The company is completing the milestones of development and is achieving its goals. We are creating a tremendous momentum by doing what we said we would do and by building an investor confidence in our management, our directors, myself and our business plan.” SUTI closed up 33.3% on Tuesday. Over the last 45 days SUTI has seen a price run of 400% seeing highs of $0.0005 in July to lows of $0.0001 in early June.
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