Buy The Dip In Singlepoint Inc (OTCMKTS:SING)

Singlepoint Inc (OTCMKTS:SING) surprised the market in the months of June and July by putting out very good news, such as a manufacturing agreement with Premier Biomedical. On top of it, the company appeared on MoneyTV with Donald Baillargeon and NetworkNewsWire featured the company in one of its publications. As a result of the news, the share price increased in July on high volume. Have a look at the price action.SourceBusinessSinglePoint Inc. (SING) is a full service mobile technology provider firm located in Nevada. The firm has been operational since 2006. In the past decade, the firm evolved from a mobile technology provider to a holding company with a diverse portfolio. The company is now involved in the activity of buying undervalued companies and creating a consistent but diverse portfolio for the firm. The company owns a number of subsidiaries, such as SingleSeed, SingleCoin etc. The firm recently entered into the business of volume supplier for Premier Biomedical Inc (OTCMKTS:BIEI); a firm that is involved in the mass production of CBD Hemp oil. This does not come as a surprise after SinglePoint Inc. acquired Discount Indoor Garden Supply (DIGS) on May 24, 2017. The acquisition of DIGS will help the company in positioning SinglePoint as a leader in California cannabis, which is the home for thousands of cannabis-related businesses. The following video put out on Jan 31, 2014 helps in understanding the strategy of the company.https://youtu.be/YADTdT06eKESourceRecent DevelopmentsOn June 29, 2017, SING announced with the help of its press release that it is partnering with Premier Biomedical Inc to mass-manufacture its CBD Hemp Oil Patch, and future products. SinglePoint CEO, Greg Lambrecht, quoted:

"We have been working very hard on making acquisitions and inside sales to boost revenue, and this new business will contribute significantly to our revenue goals."

The following move will improve the revenue consistency of the firm. As per the deal, SinglePoint Inc. will work as the volume supplier for the CBD Hemp oil produced by Premier Biomedical. This will help SING to mass produce the volume as they found a supplier. This will be beneficial for both parties involved in the business.On July 14, on MoneyTV with Donald Baillargeon, SinglePoint Inc. CEO Greg Lambrecht introduced Wil Ralston as company President, who spoke about the bitcoin cannabis payment system. Greg also stated that over the years, Singlepoint has evolved from being a mobile technology provider to a diversified cannabis holding company. The company aims at playing a major part in the cannabis industry, which is projected to exceed $50 billion by the year 2026 by Cowen & Co.On July 20, 2017, Newswire featured an article about the rapidly expanding cannabis business in the US. After the acquisition of a bitcoin based firm in the start of the month of July, SinglePoint Inc. announced that it is hoping to enter into the cannabis market. The special feature published reads:

"Recognizing other opportunities in the high-demand marijuana market, SinglePoint is fattening its acquisition portfolio to create new investment opportunities and boost the availability of equipment, products, and technologies to support the sector's continued growth."

As future events go, Singlepoint expects a significant improvement in its overall revenue for the recent quarter. The company is set to announce its quarterly results during the third week of Aug 2017.Reduced float may be causing the volatility in the share priceAccording to the following table obtained from the OTC Markets Exchange, the amount of shares owned by the public (float) is quite small:

• Authorized Shares: 1,000,000,000 shares as of June 20, 2017
• Outstanding Shares: 761,031,883 shares as of June 20, 2017
• Float: 299,376,317 shares as of June 20, 2017

What's happening recently and ConclusionIn recent days, we saw how the stock price dropped from $0.05 to $0.03 a share. This is just some traders booking profits. The intrinsic value of the company did not change. The recent pullback is a good opportunity for dip buyers in SING. To sum up, there is a lot to like here. We will be ready to assess the quarterly results that will be put this month.Be sure to check out our coverage on SING.We will be updating our subscribers as soon as we know more. For the latest updates on SING, sign up below!Image courtesy of holysmokescrafts via FlickrDisclosure: We have no position in SING and have not been compensated for this article.