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Financials : Banks | Large Cap ValueCompany profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Closing Price
$29.30
Day's Change
0.31 (1.07%)
Bid
--
Ask
--
B/A Size
--
Day's High
29.46
Day's Low
28.71
Volume
(Above Average)
Volume:
97,928,158

10-day average volume:
84,512,596
97,928,158

The Seeds of a New Era for Cannabis and Hemp in the U.S. - Companies Poised to Capitalize in 2019 and Beyond

8:00 am ET January 2, 2019 (Globe Newswire) Print

Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a 2019 outlook for the sector as the 2018 US Farm Bill law plants the seeds of a new era for the US markets.

According to New Frontier Data, "The 2018 Farm Bill will restore industrial hemp to nationwide legal production for the first time since World War II, offering vast opportunities for the industry and investment in a market expected to triple in four years."

Continued: With the removal of hemp from federal prohibition under the Controlled Substances Act of 1970 (CSA), the total U.S. hemp industry now looks to expand at a healthy 18.4% through a 5-year combined annual growth rate (CAGR) from 2018-2022. New Frontier Data's Hemp Business Journal estimates that, in leading all hemp product categories, the hemp-derived CBD market will grow from a $390 million-dollar market in 2018, to a $1.3 billion market (or 3.3x) by 2022, representing a 27.2% 5-year CAGR.

SinglePoint, Inc. (OTCQB: SING) just stated in recent news, "This is a huge win and opportunity for us. The company's subsidiary SingleSeed.com is an ecommerce-based business that sells and supplies industrial-based hemp cannabidiol (CBD) products. As hemp has become more mainstream and now a fully federally legal commodity the company plans to add more to its offering. Ranging from Biofuel to construction materials to extracting cannabidiol used to treat various ailments and wellbeing, industrial hemp now has an opportunity to be competitive in the global marketplace."

They also said, "Looking ahead to 2019, SinglePoint management is seeking new deals and currently negotiating potential acquisitions across different sectors and will continue to grow revenue through its acquisition model. Management is confident revenue growth through hemp-based initiatives will be successful through 2019 and beyond."

Bruce Linton, Chairman & Co-CEO, Canopy Growth Corporation, the world's largest diversified hemp and cannabis company, (TSX: WEED) (NYSE: CGC), commented on the passage of the Farm Bill saying, "Canopy Growth commends the United States government for passing the Farm Bill, a transformative piece of legislation that will create jobs and meaningful economic impact across the United States."

Continued: "Thanks to a deep hemp-specific portfolio of intellectual property acquired from Colorado-based ebbu Inc. and a landmark investment of USD $4 billion from Constellation Brands, management believes it is well-positioned to enter the US market quickly."

Canadian-based Tilray, Inc. (NASDAQ:TLRY), a global leader in cannabis research and production said in December following a flurry of deal flow, "The Farm Bill in the U.S. presents an opportunity to enter the hemp-derived CBD industry and capitalize on an estimated US$22 billion market. Tilray has the expertise, team and supply in place to pursue this opportunity and looks forward to potentially expanding its product offerings to include hemp-derived CBD in U.S."

Another Canadian-based player, with a presence across five continents, Cronos Group (NASDAQ: CRON) (TSX: CRON) is on most investors' watch list following recent news of a C$2.4 billion strategic investment from Altria Group, Inc.

Following the news, during the company's conference call, Graeme Kreindler from Eight Capital asked about Altria's experience in the US market and how it would play a role. "So I was wondering if there's been any discussions about what that could mean for Cronos in the event of a passing of a farm bill here, on a strategic initiative there?"

Cronos Group's CEO Mike Gorenstein said, "Sure. I think any market, it's great being able to draw from that experience. One of the things that we found is going to be really important is the experience that Altria has dealing with agencies like the FDA and making sure that, again, we follow all the steps, we follow the right processes to make sure that we're bringing products on in a responsible fashion and in collaboration with regulators. So I think that will be very, very important for us."

With headlines like,' 'Financial cascade': How the U.S. farm bill could unleash a multi-billion dollar CBD business overnight' investors are looking to 2019 as a big year for cannabis stocks but as always, are reminded to keep their feet firmly planted in the ground with some due diligence.

For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks

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This news is published on the Investorideas.com Newswire - News that Inspires big ideas Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp. Disclosure: this news article featuring SING is a paid for news release on Investorideas.com. Learn more about costs and our services https://www.investorideas.com/News-Upload/

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