Summer is underway and the popularity of marijuana is quickly growing by the day, cannabis stock investors have reaped the benefit of these positive events occurring in the cannabis industry. Recently Massachusetts opened its first medical marijuana dispensary called Alternative Therapies Group in Salem, Ma. The famous saying for investors is “Sell in May, then go away”, but this doesn’t apply to the marijuana space. Cannabis stocks have kicked into second gear since the start of summer as more rumors and interest continue to surface.
Ubiquitech Software Corp (OTCMKTS:UBQU) is an international technology and services company that also owns the division HempLifeToday.com. The company released news Thursday morning recording triple digit revenue increases in the second quarter of this year. The sales growth for HempLifeToday.com for Q2 continues to increase with gross sales of approximately $750,513. As opposed to this time last year where the company only reported revenues of $268,500, it leads to a 279% year-over-year increase in revenues. CEO James Ballas states, “We see all good things ahead, he then continued by saying, “With our combination of great products and support, and our vast knowledge of marketing, we know that HempLifeToday will continue its growth. This is why we acquired HempLifeToday and we continue to execute on our business plan.” Since July 1st UBQU has seen a price run of over 139% from lows of $0.046 to highs on Thursday of $0.11.
FBEC Worldwide Inc (OTCMKTS:FBEC) is one company that is no stranger to cannabis stock investors since the start of the summer. The company is due to launch their signature H.E.M.P WolfShot August 1st. Notable cannabis industry figureheads The Wolf of Weed Street, Cheryl Shuman and MarijuanaStocks.com endorse the energy shot. This past week the company released news announcing it has started its move to the OTCQB, with the end goal of being step closer to the New York Stock Exchange. Robert Sands CEO of FBEC Worldwide was quoted in, “We anticipate sales and marketing of our new product line, and with new beverages on our drawing board, and a target of $50M in sales over the next 24 months, we will focus on meeting the requirements for the New York Stock Exchange.”
mCig Inc (OTCMKTS:MCIG) a leading provider of technology, products, and services for all aspects of the global medical and legal recreational cannabis industry, announced this week the company is launching the inaugural Ultimate Cannabis Innovation Awards. This contest is to notice the most creative and exciting new products, services and entrepreneurial talent in the cannabis industry today. The event is set to take place in New York City in October of this year. CEO of mCig Inc had this to say, “We’ll be using this event to help us identify those companies that will help us enhance mCig’s pipeline and build on our existing market-leading brands.” mCig is known for their huge celebrity endorsement from Hip Hop superstar Rick Ross. MCIG is currently priced at $0.05.