There’s very little question anymore as to the impact that legalized marijuana has had in the US. Once the state of Colorado because first to legalize recreational marijuana, the markets have been buzzing with speculation and overall attention on the space. From Hemp infused drinks to dispensaries and anything in between, marijuana stocks and cannabis companies have taken the spotlight for emerging industries of scale. In just a few short years and assuming the Presidential races has a favorable outcome for the market, this industry could be in the high multi-billion dollar range. Some states that have gone legal are even finding a tax surplus from the retail sale of the drug. This having been said, several companies have caught the attention of investors including FBEC Worldwide Inc (OTCMKTS:FBEC), General Cannabis Corp (OTCMKTS:CANN), and even Terra Tech Corp (OTCMKTS:TRTC).
This morning FBEC Worldwide Inc (OTCMKTS:FBEC) announced that the company had engaged with PNBM Holdings, LLC for exclusive placement into 7-11 and other chains throughout the US. The company’s product, Wolfshot brand of Healthy Hemp Energy Shots will be placed into multiple convenience stores within the Northeast including 7-11 and ShopRite. In a statement made by CEO Jeff Green, “We are excited to begin this new relationship with PNBM Holdings LLC. We have the utmost confidence in PNBM to provide the distribution sales representation our WolfShot™ brand of Healthy Hemp™ Energy Shots deserves. We will be putting out an 8k shortly for this material agreement.”
So far today the stock is up roughly 4% from its previous close on Friday. Since the end of August, though, shares of FBEC have increased in price by as much as 792% from lows of $0.0037 to highs of $0.033.
General Cannabis Corp (OTCMKTS:CANN) has also seen a swift increase in trading activity as of late. The self-proclaimed “all-in-one resource to the regulated cannabis industry” reported that it has completed the initial closing of a $3million private placement with multiple private parties. The company plans to distribute the proceeds directly into expansionary efforts for the company, repayment of existing mortgages, senior secured debt, and working capital (in addition with fees associated with the placement). Since the beginning of September, shares of CANN have increased by as much as 260% coming from lows of $0.691 to as high as $2.49 today.
Terra Tech Corp (OTCMKTS:TRTC) has also been on the rally trail during the last few weeks. Since hitting lows of $0.3255 in late September, the stock has rallied to highs of $0.405 on Monday. Just a few weeks ago, the vertically integrated cannabis-focused agriculture company, today announced that its subsidiary, Edible Garden, a retail seller of locally grown hydroponic produce, herbs, and floral products, has started shipping its line of 4 inch potted living herbs to Wegmans Food Markets, Inc. in New Jersey. Wegmans, a privately held American regional supermarket chain headquartered in New York, operates 89 stores in the mid-Atlantic and New England regions.