Despite seeing a massive surge this fall like many other cannabis related stocks, Signal Bay, Inc. (OTCMKTS:SGBY) shares were initially faltering at the start of the 2017 trading year. At the beginning of last week, however, momentum began to pick up, leading to SGBY breaching its 50DMA on Friday.
The stock’s swing low for the week came in at .0196 last Monday, and within the first hour of trading today, it had risen to a high of .027, which marks a one-week upswing of 38%
Signal Bay, Inc. (OTCMKTS:SGBY) takes part in the red-hot marijuana sector via the cannabis testing niche, which is under-occupied compared to other niche areas of the industry as a whole. It’s uniquely advantageous, in that marijuana testing is needed everywhere any type of marijuana use is permitted, whether it be for recreation or medicinal purposes.
This past election cycle saw the implementation of legislation that increased the number of states that fall into this category nationwide, by a significant margin. The number of states where a company like Signal Bay can theoretically operate now stands at 28, plus the District of Columbia.
About Signal Bay, Inc.
Signal Bay, Inc. (Signal Bay), through its subsidiaries, provides advisory, management and analytical testing services to the legalized cannabis industry. The Company’s segments are Signal Bay Consulting (SBC) and CR Labs, Inc. (CRLB). SBC provides advisory, licensing and compliance services to the cannabis industry. SBC’s clients are located in states that have state managed medical and/or recreational programs. SBC assists these companies with license applications, business planning, state compliance and ongoing operational support. CRLB provides analytical testing services to the cannabis industry. CRLB’s clients are located in Oregon and consist of growers, processors and dispensaries. Signal Bay provides advisory and consulting services to cannabis companies, including license application support, regulatory compliance, market forecasts and operational insights. It also publishes industry information through online media, research reports and publications.
Through its three subsidiaries: Signal Bay Research, Signal Bay Services and EVIO Labs; the Company provides research, consulting services, and analytical testing services to the legal cannabis industry. The Company’s EVIO Labs division operates state-of-the-art testing facilities and offers accredited testing methodologies performed by a qualified team of scientists to ensure the safety and quality of the nation’s cannabis supply. As the legalization of medical and recreational marijuana continues across the country, demand for reliable cannabis testing facilities is increasing. Learn more at http://SignalBay.com.
Seven Signal Bay Clients Get Maryland Marijuana Moving, Expand into California
In December, the company announced that seven of its clients in Maryland had obtained the go-ahead from the Maryland Medical Cannabis Commission with pre-approval granted to be among the state’s first 102 medical cannabis dispensaries, out of more than 800 applications that were filed. It illustrates the sheer scope of the opportunities that are becoming available in a market that is growing more rapidly than anyone could have imagined a few years, or perhaps even just one year ago.
The company wasn’t just sitting on its hands while waiting for the Maryland story to unfold, either. It used that time to expand its recreational cannabis testing operations in Oregon, where recreational pot has been legal since 2014 and the company has been primarily focused, into California which just voted it into law in November. (Source: PR Newswire)
The potential of the specific area of the marijuana space in which Signal Bay operates is a key attractant, and with share price on the rise, we’re interested to see where Signal Bay goes from here. Stay locked to StreetRegister.com to keep up to date with SGBY and many more stocks daily, and get signed up for our 100% free smallcap newsletter right away! To subscribe, just enter your email address into the box below! Sign up today!