Although the United States legal cannabis industry has taken a backseat to countries that have legalized medical cannabis at the federal level, domestic companies focused on the burgeoning domestic market continue to execute and deliver value to investors.
Earnings season has started to heat up; several companies have already announced results. A few companies have reported results that show significant improvement, while some others have reported very lackluster results.
Surna Inc. (SRNA) a developer of innovative technologies and products that monitor, control and or address the energy and resource intensive nature of indoor cannabis cultivation, reported first quarter financial results today that surprised many investors.
United Cannabis Corporation (CNAB)
Blue Line Protection Group, Inc. (BLPG)
Blue Line Protection Group, Inc. provides armed protection, financial solutions, logistics and compliance services for businesses engaged in the legal cannabis industry. In March 2015, BLPG’s Nevada subsidiary, BLPG, Inc., was granted licenses to provide its suite of protection, transportation and compliance services within the state.
One of the most frequently asked questions I have received over the last year pertains to how an investor can diversify their portfolio of cannabis stocks. A year ago, I would have said that it is impossible to be diversified in an industry filled with non-reporting, unregulated, developmental companies.
During the gold rush most people did not make their fortunes mining for gold. The real winners during the gold rush were the people, like Samuel Brannan and Levi Strauss, selling the ancillary products to the gold miners (i.e. picks, shovels, clothing, etc.). There are many ancillary businesses are trying to capitalize on the green rush in Colorado. Today we are going to highlight some of the publicly traded cannabis companies focusing on the rapidly developing ancillary industry.