{"id":3779,"date":"2014-02-03T13:13:55","date_gmt":"2014-02-03T13:13:55","guid":{"rendered":"\/?p=3779"},"modified":"2014-02-03T13:13:59","modified_gmt":"2014-02-03T13:13:59","slug":"singlepoint-inc-otcmktssing-exploder-in-new-role-as-pot-stock","status":"publish","type":"post","link":"\/articles\/singlepoint-inc-otcmktssing-exploder-in-new-role-as-pot-stock\/","title":{"rendered":"Singlepoint, Inc. (OTCMKTS:SING) Exploder in New Role as Pot Stock"},"content":{"rendered":"

Penny stocks that lag seem to have found the perfect cure: reinvent the business to fit the medical cannabis industry. This is what happened to Singlepoint, Inc. (OTCMKTS:SING<\/a>), previously known as Carbon Credit International, Inc. (OTCMKTS:CARN). The ticker rose by more than 184% on Friday, reaching $0.0196 on dollar volumes above $984,000. \"SING0302.png\" <\/p>\n

CARN was lifted by news that it would be providing a platform to process payments of the cannabis industry. For now, marijuana business hold great promise, but bank payments are a huge problem, since the business object is still a restricted substance, and banks refuse to make the transactions, to avoid a heavy screening procedure.\"RIGH0302.png\"<\/p>\n

But it is still unknown if the payment system would then be carried glitch-free by banks, an inevitable step in the process. For now, SING<\/a> has a functional SMS-payment system, as well as a system for mobile donations.<\/p>\n

SING<\/a> is not a timely filer, so we have little knowledge of its financials. But as with other penny-level tickers, past performance is not a sign for future results. What we know is that most times, after a single day of dramatic climbs, the shares lose steam and crash, as investors look for the next big opportunity.<\/p>\n

A similar thing happened to Rightscorp, Inc. (OTCMKTS:RIGH<\/a>), a sub-penny selection that doubled in a day. RIGH<\/a> chose to attach itself to the marijuana sector by offering an online platform for matching users to existing cannabis treatments. RIGH<\/a> was also a company of doubtful quality, but still it satisfied the hunger for underpriced, underexplored pot-stocks. RIGH<\/a> is now 50% below its peak, crashing in two short trading days.<\/p>\n

Triton Distribution Systems, Inc. (OTCMKTS:TTDZ<\/a>) was also a double-zero star from last week which wiped out half its value in the last two trading days. TTDZ<\/a> rose on the promise of a buyout, thus turning into an OTC vehicle, but the enthusiasm was followed by serious profit-taking.<\/p>\n

In the case of SING<\/a>, the ticker is fresh out of a long sideways drift, and its future is highly uncertain. Investors have noticed that the company is riding every trend, becoming a carbon credit trader when that was fashionable- still without changing its underlying model of processing SMS transactions. So while the company may have some promise, and its CEO and founder Greg Lambrecht may have a long track record in founding businesses, it is best to stay away as the new week may come either with weaker gains or the inevitable correction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Penny stocks that lag seem to have found the perfect cure: reinvent the business to fit the medical cannabis industry. This is what happened to Singlepoint, Inc. (OTCMKTS:SING), previously known as Carbon Credit International,...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1222,1235,1218],"class_list":["post-3779","post","type-post","status-publish","format-standard","hentry","category-news","tag-righ","tag-sing","tag-ttdz"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3779"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3779\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}