ML Capital Group Inc (OTCMKTS:MLCG) shares soared 144.44% on Wednesday to $0.00220. The company has a market cap of $2.94 million at 1.34 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.00.
ML Capital Group Inc is a company that is engaged in the business of providing consulting services to both public and private companies. It primarily focuses on early stage companies, small businesses and emerging growth companies and is producing products and providing services that support the medical marijuana industry. In particular, it produces and markets its products and services under the Superstar Products brand name, including vapor pens, mobile applications and books. The focus of the ML Capital Group Inc is to sell products and services that do not include the growing, manufacture, or distribution of medical marijuana, cannabis, or cannabis byproducts.
Just recently, the company announced that they will be working together with Puration to introduce Cannabis Tourism to the New York Times. This also follows Puration’s $1 million collaboration agreement with Colorado based Spanish Peaks
ScrumpDelicacies and ML Capital Group Inc’s letter of intent to acquire Spanish Peaks ScrumpDelicacies, which is venture-backed startup dedicated to building cannabis consumer product production capacity in Colorado.
In this week’s press release, ML Capital Group Inc announced the company plans to publish an online presentation today to provide more details on the company’s preliminary sales forecast for 2017, which includes contributions from its fresh entry into the cannabis sector with its Puration partnership.
This partnership between MLCG, PURA and Spanish Peaks is a sound strategy for every participant, and an opportunity for the shareholders of every participant to take part in the history making and money making transition from an illegal marijuana market to a legal one,” the company’s press materials indicated.
It started off by projecting that travel sales are expected to reach $2.5 trillion by 2020. To take advantage of this, ML Capital Group Inc has zeroed in on the luxury sub-segment and already operates a luxury tour service in Hawaii. It has also recognized the expanding role of mobile technology within the travel industry and launched an initiative to build a mobile brand.
It also delved into the segmentation potential of the marijuana industry, as cannabis-infused edibles and cosmetics add to potential sales revenues, on top of merchandise. It compared the luxury cannabis tour segment to winery and distillery tours in Napa Valley or Tuscany, citing Colorado’s $19 billion travel market as a strong opportunity for the company to tap into this type of market. This is already in the works and additional Cannabis Tour locations, to include destinations outside the United States, are also underway.
Looking at the daily chart of ML Capital Group Inc shares shows a strong rally so far this year, spurred by its partnership with Puration. Volume has considerably spiked, reflecting strong investor interest, which might likely sustain the bullish move to new heights. It’s also worth noting that price is gearing up to move past the previous peak around March to May last year.
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