Blue Line Protection Group (web site) is a leading security and risk mitigation solutions provider for retail businesses and financial institutions serving the legal cannabis industry, is now providing a complete compliance, transportation and cash processing solution for banks and credit unions looking to enter the cannabis industry.
BLPG Shares Record Big Gains on Record Volume
Last week, shares in Blue Line Protection Group (BLPG) rose from .035 to an intraday high of .09 on record volume.
Shares pulled back on profit-taking on Thursday and Friday, making a nice entry point here.
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Demand for Banking Services from Legal Cannabis Industry Increasing
Some might believe that the expansion of legal of cannabis use in more states would reduce demand for Blue Line Protection Group’s legal cannabis banking services.
However, according to this article in Bloomberg last week, the opposite is happening. While nine more states will vote tomorrow on whether to legalize some aspect of marijuana use, banks willing to provide services to cannabis companies are still hard to find.
For those new BLPG, we recommended it here at .04/share:
see: Banking The Cannabis Industry: A Groundbreaking Moment Comes Into Focus (August 1st)
Last week, BLPG provided an update on the company’s operations which includes the opening of a new vaulting and cash processing facility in Denver, Colorado.
With 9 states voting to legalize some form of marijuana use tomorrow while traditional banks willing to provide services to cannabis companies remain few, shares in BLPG may just be starting to light up here.