Already at record highs as this market week opens, most major equity indexes continued their upward march on Monday. Assurances of continued dovish policy from the US Federal Reserve coupled with solid earnings news to push equities broadly up.
Our Top Performer for Monday once again comes from the intersection of two of the trendiest stock plays at the moment: bitcoin and legal US cannabis. Value investors, day traders, and even those interested in high-risk, high-reward stocks in sectors like digital currency and cannabis can find profitable plays every day on NewsQuantified.
IC Potash is a broadly invested agricultural company, currently focused on organic fertilizer and other organic agricultural resources. Their subsidiary, IC Organics, is focused on providing similar services for Cannabis growers. In addition to selling supplies like fertilizer to cannabis growers, ICP announced a new growth strategy for IC Organics on Monday.
They will begin utilizing a private blockchain technology to ensure data integrity on “seed-to-sale” information, in both an intra-company and inter-firm context. Their system plans to track both sales data and safety/security information. They expect a rapidly rising demand for software to streamline business communications in a market that explodes as recreational legalization comes into effect in many US states (including the massive market of California in January).
Investors, hungry for blockchain and cannabis plays in recent months, piled into the stock on the news. At the time of this writing, it had already climbed over 75% in just a few hours.
Whether you’re a bitcoin believer or a blockchain skeptic, you can use a powerful news-based trading platform like NewsQuantified to make handy profits on the market’s clear enthusiasm for this technology.
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