Singlepoint Inc (OTCMKTS:SING) is trading upward with strong volume. SING is up 10% over a one month span and there might be more good news on the horizon.
SING has seen sizeable growth through acquisition and is involved in Bitcoin and digital currencies as well as the Cannabis sector which have all seen impressive growth this year. Beyond Bitcoin, SinglePoint is currently in negotiations to make a major purchase from a company that has recently ICO’ed a cannabis specific crypto currency to be used specifically for the cannabis industry. SinglePoint will roll this into its point of sale crypto currency offering. These are all very interesting opportunities and the market might not have picked up on them yet.
Singlepoint Inc (OTCMKTS:SING), aside from its recent pivot into the crypto space, trumpets itself as a company that provides mobile technology and marketing solutions for small to mid-size businesses, nonprofits, and religious organizations. Its solutions enable clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices.
SING’s portfolio includes; Text2Bid, a mobile bidding solution that allows users to bid in auctions from text or Web-enabled phones; Donate by Text, a solution that allows nonprofits to securely collect donations via text; Pay by Text that allows customers to pay for products using their mobile phones; and Point of Sale terminals to provide customers the convenience of using debit/credit cards right at checkout.
SING also provides Oomy, a solution that enables companies to track and manage their fleet vehicles, drivers, and deliveries; text mobile marketing solutions; SingleSwipe that enables customers to turn any device into a point of sale payment processor with the SingleSwipe card reader; and other solutions.
According to company materials, “SING is a full-service mobile technology and marketing provider. We provide solutions that allow our clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices. Our products connect small to mid-size companies to their target markets by providing innovative mobile technology at reasonable rates. The company recognized the strength in acquiring interest in undervalued subsidiaries in other markets to create a diversified holding base.”
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In September SING announced the acquisition of Dr. FeelGood, a profitable cannabis distribution company out of Phoenix. Dr. FeelGood is a leading distribution company with expansion plans to add proprietary delivery and ordering technology application. Per the agreement terms, SinglePoint will acquire fifty-one percent (51%) of the company in a combination of cash and stock, which will allow SinglePoint to recognize all revenue. The acquisition will add an additional revenue stream to SinglePoint, solidifying the company’s revenue-by-acquisition strategy.
Dr. FeelGood represents the third acquisition of the year for SinglePoint. This move provides SinglePoint with additional revenue, as well as team members that have been actively working in the cannabis industry for many years.
Now sporting a market cap of $44.24M, SING is working quickly to acquire players in the cannabis industry who are not touching the plant. These kinds of operators could be turning a nice profit for SING in the future, We will be updated readers as more information becomes clear on the company’s next move. Sign-up for continuing coverage on shares of $SING stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $SING, either long or short, and we have not been compensated for this article.