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88 Energy Ltd (OTCMKTS: EEENF) Run Brewing as PeregrinOil Miner Targets 1.638 bbl in World Class Alaska North Slope

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88 Energy Ltd (OTCMKTS: EEENF) continues to move steadily higher over its $0.02 base with power in recent days as volume picks up heavily. EEENF is emerging as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. Currently under heavy accumulation EEENF is moving steadily northbound with many new investors buying in every day. EEENF is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – EEENF is looking to take out $0.085 recent highs for confirmation of the next leg up and blue sky breakout!   

88 Energy is a big story developing in smalll caps; The recent acquisition of XCD Energy gives the Company over 400,000 acres in the world class North Slope of Alaska estimated by the USGS in 2005 to hold more than 50 billion bbl of oil and a war chest of $13 million in the treasury. Timing could not be better for a potential mammoth oil strike with the Crude Oil WTI Index continuing to rise. 88 Energy recently commenced drilling the Merlin-1 well which will initially be drilled to 1,500 feet, then surface casing will be installed, and the Blow Out Preventer System tested. the well will be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000 feet. 88 Energy has recently received initial results from 5 of the 18 specifically selected trims from the side wall cores, with 2 of the 5 confirming the presence of hydrocarbons. Significantly, these depths were among the prospective zones that were not able to be tested with the RDT downhole fluid extraction tool. These zones also correspond with depths where good oil shows were noted during drilling, including petroliferous odour, fluorescence and cut. Small trims were cut from the side of several of the 48 side wall cores to undergo special analysis. The remaining material is reserved for routine core analysis. 

88 Energy Ltd (OTCMKTS: EEENF) is an oil and gas operator with 3 properties covering over 400,000 acres of targeting the world class North Slope of Alaska estimated by the USGS in 2005 to hold more than 50 billion bbl of oil and natural-gas liquids and 227 trillion cubic feet of gas. The recent merger of 88Energy and XCD Energy has created a substantially enhanced Alaska focused oil exploration and appraisal Company currently making big moves.  All three projects combined total about 410,312 acres in northern Alaska that hold significant potential of future growth and discoveries. 88E is listed in Australia, London and the USA as EEENF  With 88 Energy targeting 1.638 bbl and analyses on the projects coming in late Q1, 2021 anticipation could not be greater. 

EEENF has an impressive shareholder list:

Project Icewine, Alaska covers 200,000 acres onshore in a prolific oil-rich province. The land was confirmed to have large oil and condensate repositories and is expected to be further appraised for more accurate findings.  The project site has a 78% working interest and would be leased for 7-10 years with a 16.5% royally for the land holders. nconventional objective in shale complex that sourced the 13 BN barrel Prudhoe Bay Oil Field – opportunity identified by first mover in the Eagle Ford; onventional objective is the hottest play on the North Slope with 88 Energy acreage offset by multiple recent discoveries. 

Project Peregrine in Alaska spans about 195,000 acres and is fully owned by EEENF in NPR-A. The site was recently acquired via the arket takeover of XCD Energy Ltd. Large prospects on trend to recently discovered fields; US$10m farm-out completed post XCD acquisition; Drilling to commence March 2021. 

The Cascade Project covers 15,312 acres and contains historic oil discoveries and is near commissioned infrastructure. Called the Yukon oil leases this project was initially acquired due to its excellent location and low cost, especially considering 3D seismic trials revealed about 86 million barrels of resources in 2018.  

88E recently reported that Rig 111 commenced drilling. The Merlin-1 well will initially be drilled to 1,500 feet, then surface casing will be installed, and the Blow Out Preventer System tested. the well will be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000 feet. The Merlin-1 well is targeting 645 million barrels of gross mean prospective resource.  According to management the Company has a war chest of US$13 million which will easily fund its share of the drilling of Merlin-1 and the company’s other planned activities. 88 Energy managing director Dave Wall stated, “Drilling has now commenced at Merlin-1, with results expected within the next 4 weeks. This is an exciting and pivotal time for the company and our shareholders.” The timing of a potential oil strike couldn’t be better with the Crude Oil WTI Index hitting a high of US$67.98 per barrel just last week, a level it hasn’t traded at since 2018. 

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EEENF

On June 23 88 Energy updated shareholders on its operations on the North Slope of Alaska. Highlights include Geochemical analysis of fluid extracts from selected core samples definitively demonstrates the presence of hydrocarbons, Further quantitative screening on remaining samples to commence, Phase two of side-wall core trim analysis to commence shortly, including: quantitative extraction, SARA, isotopes and biomarker analysis Details. 

88 Energy has recently received initial results from 5 of the 18 specifically selected trims from the side wall cores, with 2 of the 5 confirming the presence of hydrocarbons. Significantly, these depths were among the prospective zones that were not able to be tested with the RDT downhole fluid extraction tool. These zones also correspond with depths where good oil shows were noted during drilling, including petroliferous odour, fluorescence and cut. Small trims were cut from the side of several of the 48 side wall cores to undergo special analysis. The remaining material is reserved for routine core analysis. 

These gas chromatography charts show a spread of carbon compounds with lighter molecules on the  left and heavier components on the right. Oil signatures may be inferred by the presence of heavier carbon compounds seen in the two of the five samples run to date (as seen in Fig. 2). Importantl these signatures show no evidence of biodegradation.  

The highly encouraging test results to date serve to refine the Company’s understanding of both the quantity and the mobility of hydrocarbons in place as well as the commercial potential of the greater Project Peregrine acreage, which will be further appraised in coming seasons. The Company looks forward to further results from the remaining 13 trims over the coming weeks. Phase two of the geochemical analysis program on the side-wall core trims will commence after completion of the analysis of remaining 13 trims, which will include quantitative extraction, SARA, isotopes and biomarkers analysis. These analyses are designed to confirm not only the presence of oil but also the nature of the source rock, enhancing understanding of the likely quality of the oil as well as migration pathways, which is critical for understanding regional implications on prospectivity across Project Peregrine. 

In addition, the Company is looking forward to the preliminary results of the Volatiles Analysis Service (VAS), which is currently underway, as well as analysis of gases collected in isotubes while drilling. VAS and gas analysis further enhances knowledge of the depths at which oil accumulations may occur across the project area as well as wettability of the reservoir rocks. Testing Program and Status. The Company is highly encouraged by the preliminary results received to date from the Merlin-1 testing program, with analysis and interpretation of results ongoing. Once complete, these will be consolidated and integrated into the Project Peregrine database, which will form the basis of future farm-out and exploration on the acreage.  

Pursuant to the requirements of the ASX Listing Rules Chapter 5 and the AIM Rules for Companies, the technical information and resource reporting contained in this announcement was prepared by, or v under the supervision of, Dr Stephen Staley, who is a Non-Executive Director of the Company. Dr Staley has more than 35 years’ experience in the petroleum industry 

https://twitter.com/lucidleek1/status/1409647039810441216

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88 Energy Ltd (OTCMKTS: EEENF) continues to move steadily higher over its $0.02 base with power in recent days as volume picks up heavily. EEENF is emerging as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. Currently under heavy accumulation EEENF is moving steadily northbound with many new investors buying in every day. EEENF is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – EEENF is looking to take out $0.085 recent highs for confirmation of the next leg up and blue sky breakout!    88 Energy is a big story developing in smalll caps; The recent acquisition of XCD Energy gives the Company over 400,000 acres in the world class North Slope of Alaska estimated by the USGS in 2005 to hold more than 50 billion bbl of oil and a war chest of $13 million in the treasury. Timing could not be better for a potential mammoth oil strike with the Crude Oil WTI Index continuing to rise. 88 Energy recently commenced drilling the Merlin-1 well which will initially be drilled to 1,500 feet, then surface casing will be installed, and the Blow Out Preventer System tested. the well will be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000 feet. 88 Energy has recently received initial results from 5 of the 18 specifically selected trims from the side wall cores, with 2 of the 5 confirming the presence of hydrocarbons. Significantly, these depths were among the prospective zones that were not able to be tested with the RDT downhole fluid extraction tool. These zones also correspond with depths where good oil shows were noted during drilling, including petroliferous odour, fluorescence and cut. Small trims were cut from the side of several of the 48 side wall cores to undergo special analysis. The remaining material is reserved for routine core analysis.  Microcapdaily first reported on EEENF on March 18 when the stock was $0.015. We will be updating on 88E when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with 88E.

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Disclosure: we hold no position in 88E either long or short and we have not been compensated for this article

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MSP Recovery (NASDAQ: LIFW) in the Spotlight: Legal Battles, Luxe Living, and Stock Surge

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MSP Recovery (NASDAQ: LIFW) has been on quite the rollercoaster ride, defying gravity with over 400% gain since September 14th, 2023 with over 240% of that gain happening this week alone. However, the exact reasons behind this meteoric rise remain elusive. Typically, when a company drops major news, you’d expect an instant stock reaction. But in this case, the last significant update from the company was about a week ago, and it’s questionable whether that news was much on the positive side, yet the stock is still zooming upwards.

Background:

Let’s delve into the nitty-gritty of what MSP Recovery, more prominently known as LifeWallet, is all about. Imagine them as the healthcare financial detectives, diligently sifting through the complexities of medical billing and reimbursements. They specialize in recovering money owed to healthcare providers. If an insurance company owes a hospital for a patient’s treatment, these folks ensure that the hospital gets the rightful compensation. But their innovation doesn’t stop there.

Enter “LifeWallet,” their brainchild—a powerful tool designed to revolutionize healthcare transactions. Picture it as a savvy assistant for healthcare professionals, standing by their side in the hustle and bustle of medical care. LifeWallet’s magic lies in its ability to decipher the complexities of healthcare billing and insurance. It guides doctors and hospitals, helping them navigate the tangled web of who should foot the bill, especially in post-accident treatments. It’s a digital ally ensuring fair compensation and smooth financial transactions in the intricate healthcare landscape.

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MSP is making waves in the healthcare domain with this innovative approach, leveraging data analytics to streamline processes and champion fair compensation for healthcare providers. Much like a rollercoaster ride, their journey promises excitement, surprises, and an undeniable thrill in the world of healthcare finances.

Legal Battles and CEO Extravagnce:

Step back and look at their stock chart—MSP has taken a major hit in value this year, and it’s not without reason. Surprisingly, digging into the company’s operations revealed some unpleasant surprises we hadn’t anticipated. It’s been a rough ride for them.

The company was just recently involved in a class action law suit led by recognized leader in shareholder rights litigation, Robbins LLP. The case revolved around MSP not providing essential information to investors transparently.

There were a number of claims mentioned, here’s a quick list.

  1. MSP didn’t reveal there was an ongoing investigation by the SEC and federal prosecutors.
  2. They gave out financial information to investors that was significantly wrong and deceptive.
  3. When admitting they needed to fix their financial results, they didn’t reveal the full extent of the issues.
  4. MSP couldn’t financially handle the claims they were assigned to manage by a major health and engaged in deceitful actions with said provider
  5. The Registration Statement had lots of wrong or misleading statements and was poorly prepared.
  6. Their Proxy also had false or misleading statements.

It all started on July 31, 2023, where The Miami Herald unveiled significant revelations. Stating the CEO John H. Ruiz has been living quite the lifestyle buying several waterfront mansions in Miami, even an entire Boeing passenger jet.

It’s not surprising the Ruiz’s lifestyle was so extravagant considering LifeWallet was once valued at more than $32 billion, but as you can see the company is now worth a small fraction of that. That said, Ruiz’s expensive lifestyle would be tough to continue.

Then again, on August 1, 2023, the Company made disclosures to the SEC (Form 8-K), confirming The Miami Herald’s findings. The stock took another substantial hit, dropping over 12%. Adding to the unfolding drama. After that, a substantial $67 million lawsuit was filed against the Company on the same day, resulting in an 18% plummet in the stock price.

The narrative continues on! On August 17, 2023, MSP acknowledged a notification letter from Nasdaq’s Listing Qualifications Department. They confirmed the Company’s non-compliance with Nasdaq’s Rule 5250(c)(1) due to a delayed Form 10-Q filing for the period ending June 30, 2023. This revelation caused a 19% stock price drop over two days.

With that said, we’ll bet you’re seriously wondering how could this company could possibly see recovery (pun intended) after all these allegations were laid out.

What happened:

Surprisingly enough, it seems Robbins LLP just recently lost the case against MSP and there was an announcement made on September 13th, 2023 about it. All those allegations have vanished into thin air. It’s baffling how a company with so many strikes against it can seemingly wrap things up so quickly. The whole situation leaves us questioning what’s really going on.

Since the announcement the other week, the company’s valuation has skyrocketed, at some points even peaking at an increase of over 400%. Naturally with that kind of trading action, it’s no surprise day traders are getting in on the action. MSP is trending all over Twitter amongst notable users like @timothysykes, @stockplaymaker1, and @AngryRed316 talking about it.

At this point, it looks like investors are basing their trades more on chart patterns and less on the company’s solid financial footing. MSP didn’t deliver great news in its latest earnings report, showing quite a large net loss of over $400 million. It’s quite likely the allegations had a role to play in this financial blow. The real question is if MSP can get its act together, start making real profits, and avoid a chapter 11. Either way, we’ll continue to follow along to see how things pan out!

We will update you on LIFW when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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FingerMotion, Inc. (NASDAQ: FNGR): A Closer Look at its 500% Surge

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FingerMotion, Inc. (NASDAQ: FNGR) continues to gain traction in recent months,  gaining over 500% since June 9th, 2023 this year. If you’re reading this now, you’re likely eager to understand the reasoning behind it. Based on their latest announcements, there are no dramatic changes fundamentally to warrant such price action. Yet their stock continues on a significant upward trend. From what we’ve seen, it appears to be the force of retail investors banding together to combat against manipulation, potentially creating the ultimate short squeeze.

Thoughts from Retail:

As per retail investors and a notable Twitter user known as HAMShortkiller, there is widespread concern regarding potential manipulation within FingerMotion. The chair of the U.S. securities stock exchange, Gary Gensler, is facing increasing criticism from investors who assert that the SEC tends to overlook white-collar crime allegations. To see what the fuss is all about, feel free to look into this video Kristen Shaughnessy shared on Twitter.

A lot of the commotion is around stock manipulation and malpractice by notable hedge funds. One user, BigC commented on the post above, “$40BB shock to the system. At what point does Jefferies realize they aren’t stopping the $FNGR deluge & mitigate losses? Or do they just roll over & become a Melvin Capital & let themselves implode? Unlike Melvin-there won’t be any Citadel to write them a $10BB check”.

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To better your understanding of fundamental tactics, we’ve provided a brief overview below. Naturally, no investor tolerates manipulation. The AMC and GME events were an initial testament to the strength of retail investors and their determination to resist such actions. Although early stage, it appears FingerMotion is following a similar trend, and more hedge funds could be in for a rude awakening as more investors join in on the retail army.  

The SEC on its way to protect retail investors
byu/Ren3666 inwallstreetbets

Before we jump into the tactics, it’s important to note that HAMShortkiller also shared a post about previous malpractice back in 2009, which highlights the story behind Rocker Partners and Overstock.com (NASDAQ: OSTK). There’s an important Vimeo at the bottom of the article, explaining all the major details of what happened and how these practices work. While this article is from over a decade ago, the user suggests some of the exact same practices are happening today with FingerMotion. Practices such as a “Bear raid“.

Exploring Stock Manipulation Tactics:

Hedge funds have a bag full of short shares at their disposal, letting them play with a stock’s price using tactics like short-ladder attacks. They go heavy on borrowed shares to bet against stocks, especially when the demand is high, stirring the stock prices. Strangely, these moves aren’t illegal or firmly tackled by the SEC yet, raising eyebrows on their potential manipulation.

Bear Raid:

Short sellers can strategically utilize both traditional media and online discussion platforms to spread negative narratives about the target company. Through leaked information to journalists, bloggers, and discussion boards, they aim to create a broad negative image.

This orchestrated use of media is geared towards sowing doubt and fear among investors, employing sensational headlines, speculative reports, and exaggerated claims to induce panic selling and drive down the stock price.

Social media platforms play a crucial role in rapidly amplifying these negative narratives. Short sellers and their networks leverage these channels to spread rumors, creating a chain reaction of panic selling and significant stock price volatility.

The collaboration between short sellers and the media seeks to fulfill a prophecy of fear, prompting sell-offs that benefit the short sellers. It’s essential for investors to critically evaluate information, considering multiple reliable sources, and to be discerning of sensationalized narratives, particularly those propagated on online discussion platforms. Verifying information from credible sources is vital to avoid falling prey to orchestrated attempts to manipulate stock prices for personal gain.

Off Exchange Trading:

Hedge funds and market makers engage in off-exchange trading, allowing them to trade and swap stocks on foreign exchanges without the need for price disclosure. This practice involves manipulating the circulating supply by not accurately reporting transactions, a significant challenge the SEC is working to tackle. Despite efforts to introduce D-Limit orders for enhanced transparency, hedge funds and market makers present resistance.

Naked Shorting:

Stocks like $AMC and $GameStop have experienced an abundance of failure-to-deliver (FTD) orders, often a result of ‘short parties’ lacking the underlying asset. Retail investors have highlighted the presence of synthetic shares, known as naked shares, in the market. Naked shorting, though made illegal after the 2008–09 financial crisis, persists due to regulatory gaps and discrepancies between trading systems. The mainstream exposure of this practice raises concerns, emphasizing the need for retail investors to address these issues with the SEC.

A Community Against Market Manipulation:

We’re continuing to see efforts to expose malpractices in the stock market. Community members like HAMShortkiller are all over social media, shedding light on manipulation tactics driven by hedge fund partners. It’s refreshing to see investors sharing factual and positive articles regarding a stock’s performance or analytics. It’s clear the investing community aims to stay informed and united against market manipulation once and for all. 

The latest movie release, “DumbMoney” is a great example of the hysteria that occured a short time ago, but some claim it’s only the beginning. According to Stephmase22 off Twitter, nothing has changed to prevent the same kind of market manipulation that happened with AMC and GME. She’s insinuating the same kind of manipulation is happening here with FNGR and that it must be stopped.

The general idea is that if the SEC won’t take action, then the folks who are getting the short end of the stick will step up, by short squeezing the players behind the manipulation.

We will update you on FNGR when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Navigating the Green Wave: US Cannabis ETF (NYSE: MSOS) A Closer Look at Cannabis Stock Resurgence

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AdvisorShares Pure US Cannabis ETF (NYSE: MSOShas been making big waves this month, boasting over 100% gain since August 29th. This ETF offers a way to tap into the thriving U.S. cannabis industry, featuring a range of well-known companies like Green Thumb (OTC: GTBIF), Verano (OTC: VRNOF), and Cresco Labs (OTC: CRLBF). There are of course many other companies involved in the ETF, if you care to look at all of them here’s a link to more information.

Cannabis ETF:

Typically, a cannabis ETF like MSOS comprises a diversified portfolio of publicly traded companies involved in various aspects of the cannabis industry within the United States. This could include companies engaged in: Cultivation and production, retail and distribution, pharmaceuticals and biotechnology, hemp/CBD, testing/compliance, and companies that provide services and products related to the cannabis industry.

Prior to September, most Cannabis stocks went going through a tough time. They weren’t growing as fast as everyone hoped or expected, and some companies are drown in debt, which caused their stock prices to drop significantly. But towards the end of August, things started looking up. U.S. multi-state cannabis companies saw their stock prices jump by a noticeable 40% to 50%. Even Canadian cannabis companies had a rise ranging from 20% to 30% without directly benefiting from the potential regulatory changes in the US.

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Regulatory Change:

This newfound optimism came from some good news. The U.S. Department of Health and Human Services suggested to the Drug Enforcement Agency (DEA) that cannabis should be moved from the highly restricted Schedule I category to the less strict Schedule III. Currently, cannabis is lumped with substances like heroin and ecstasy in Schedule I, indicating a high chance of abuse and no recognized medical value. Shifting to Schedule III would mean it’s seen as less dangerous, less likely to be abused, and having some medical benefits. This change could bring significant advantages for U.S. multi-state operators (MSOs), like paying regular taxes, easier banking access, and a chance to be listed on major U.S. stock exchanges. However, the DEA needs to do its review before finalizing this decision. In the world of MSOs, companies like Curaleaf and Green Thumb are in a good position to benefit from this change and are well-respected in the market. On the flip side, Canadian cannabis companies (LPs) are not likely to benefit as much due to their limited operations in the U.S. Nevertheless, we think Tilray and Cronos have promising growth potential with balanced risks.

Positive trends:

On a related note, the cannabis industry is seeing another positive trend this week, and many cannabis stocks are rising with the tide. Notably, Canopy Growth (NASDAQ: CGC), a big player in this field, saw a significant bump in its stock price due to upbeat predictions from financial analysts. Similarly, other marijuana companies like Aurora Cannabis (NASDAQ: ACB), Cresco Labs (OTC: CRLBF), and Curaleaf (OTC: CURLF) experienced noticeable increases in their stock prices. The main driving force behind these hikes seems to be the encouraging price forecasts set by financial analysts.

After Canopy Growth revealed plans to file bankruptcy for its BioSteel dietary supplements business, two financial firms, TD Cowen and Bank of America, adjusted their price targets for Canopy Growth. This strategic move was aimed at cutting losses and reducing cash burn. While TD Cowen sees this as a positive step that could boost Canopy Growth’s stock, Bank of America is more cautious, suggesting that the stock might be valued too high and maintaining a sell rating.

Even though there have been some positive strides in the cannabis industry, like potential ease in regulations and smarter financial strategies by companies like Aurora Cannabis and Canopy Growth, there’s a concern that the recent surge in stock prices may have already factored in this good news. Over the last month, these marijuana stocks have soared, raising questions about whether the current stock prices truly reflect the positive news or if they’ve been inflated. Some notable banks share this concern, suggesting that the stocks, especially Canopy Growth, might already be priced too high.

What’s Next:

Overall, we’re starting to see a lot more news around the safe banking act and investor optimism. This latest coverage from NBC News was another great update that brings us closer to an idea of what could happen at the end of the month. According to the article, both Republicans and Democrats support this bill, and it’s expected to have enough backing to pass in the Senate. The push for this reform is driven by concerns over safety and a desire to treat cannabis businesses as legitimate entities. While challenges and differing opinions remain, progress is being made toward a more cohesive approach to cannabis regulation at the federal level.

We will update you on MSOS when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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