Source: SeekingAlpha 3-20-15
I attended the International Cannabis Association East Coast Business Expo in New York last October and one company that impressed me was Blue Line Protection Group (OTCQB:BLPG). Since this is a microcap stock and I wasn’t familiar with them, I decided to sit back and watch the stock and see how things progressed.
I am pretty pleased with that patience as the stock plunged 50% in the past six months. In the past year, the stock dropped 97%, so this wasn’t looking too good. However, I liked the company’s business plan and have kept it on my radar to see if things might be improving for this early stage company. It does seem like the stock price has bottomed out and now over the past five days has begun to recover.
Blue Line Protection Group falls into the category of ancillary cannabis businesses. These are the companies whose business feeds off their cannabis customers. They don’t actually get involved in the cultivating or selling of cannabis. Blue Line provides a variety of services to their customers including security for money transfers and helping their clients stay compliant with laws. Many of the employees of Blue Line are veterans and ex-police officers. Full disclosure – I have a soft spot for companies that hire…