GREEN ENERGY ENTER COM USD0.01 (OTCMKTS:GYOG) is dabbling in a new enterprise of the cannabis industry: insurance. This is a new venture for GYOG, since it started (and will continue) as an aviation company operating flight schools. This move shows the draw of the cannabis boom, but the stock has shot up since news hit the wire late last month that it would be entering the cannabis industry. GYOG went from .001 to .003 in the days following. Let’s dive a little deeper into the news that caused the continued volatility.
This new is not entirely new. GYOG announced its insurance roll-out at the beginning of the year. It was still being vetted but the market did react to the news then as it did this month shooting up to .004. The volume on the last trading day of the year was similar to yesterday’s number of 197,462,673.
GREEN ENERGY ENTER COM USD0.01 (OTCMKTS:GYOG), according to company press, is diligently working to ensure that the needs of this burgeoning cannabis marketplace will be met. The total impact of the cannabis industry on the US economy based on cannabis retail sales has the potential to reach $44 billion by the end of 2020. GYOG research and preparation indicates that the total number of marijuana businesses in the United States is approximately 21,000 to 33,000 with only 7,000 to 11,000 marijuana businesses actually touching the plant.
GYOG believes companies will be offered a wide variety of insurance policies for owners and their staff. Policies for the cannabis industry are no longer a desire but rather a necessity. States continue to tweak their programs, which creates uncertainty for businesses and the industry as a whole. Insurance for this industry will provide reassurance to these operations creating operational and financial confidence and eliminate lingering uncertainty and volatility for cannabis companies.
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GYOG is looking to be an industry leader and capitalize on the opportunity to meet a need in the cannabis boom that is not currently being met. GYOG continues to stay on top of detailed rules, regulations and the rulemaking process. GYOG is aligning for a multi-state expansion to stage for the emergence of becoming a spearheaded MJ service provider. GYOG is already licensed to sell cannabis insurance in almost all legal states and plans to be licensed in potentially all 50 states.
CEO Donnell Vigil commented: “My plan moving forward is to focus Company efforts on this MJ Insurance project. This is not to say that our flight-related subsidiaries are dormant. Quite the opposite! I plan to begin utilizing our corporate blog this week and hereafter to update investors concerning our recent successes and progress via GYOG’s flight subsidiaries. But I believe the crown jewel of GYOG will become the MJ insurance project. Investors can expect regular updates concerning the MJ insurance endeavor as we add underwriters, launch marketing initiatives, and add strategic partners.”
GREEN ENERGY ENTER COM USD0.01 (OTCMKTS:GYOG) entry into the cannabis sector makes it relevant and investors should be watching management’s moves. The company claims that the insurance policies have been approved and ready for rollout. It is no secret that growers are flooding the space, so this could provide some leverage for those folks taking a significant risk in still an uncertain legal landscape. Many growers and distributors are putting up serious capital to enter this industry and GYOG is smart to get a skin in the game, but their news needs to be monitored for further details. We will be following up with an article shortly on this company. For continuing coverage on shares of $GYOG stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!