SinglePoint, Inc. (SING) Finds Growth Potential Outside of Mobile Payments Market

Being a publicly traded holding company gives SinglePoint, Inc. (OTC: SING) a chance to target candidate companies and help them grow. Such has been the case on the mobile technology and mobile marketing fronts. By connecting client companies to their best target markets, mobile technology can be made available at reasonable rates, but an interest in these organizations means profit potential for SinglePoint. However, the company hasn’t limited its investment opportunities. The cannabis industry is thriving as legalization (medical and/or recreational) has occurred in 29 states and counting. Expansion beyond mobile payments has enabled the company to find more opportunities for investors.

SinglePoint recently acquired a stake in Convectium, maker of an important filling and packaging machine for vape cartridges and pens. In 2016, the $6.7 billion legal cannabis market in North America was up 30 percent from 2015, according to Arcview Market Research. Illicit sales have declined, but there’s a growing market. By contrast, mobile payment transactions exceeded $8.7 billion in 2015, according to eMarketer, which forecast 210 percent growth in 2016. The more modest 30 percent growth in the legal cannabis market, however, represents the…

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