Dewmar International BMC Inc(OTCMKTS:DEWM) Jumps Before The Long Weekend

Dewmar International BMC Inc. (OTCMKTS:DEWM) stock rose 16.35% on Friday, driven up by the the latest cannabis legalization development.

The news that the next step towards legitimization of marijuana businesses is being taken had an uplifting effect on most of the marijuana sector. Companies like Growlife Inc. (OTCBB:PHOT), Tranzbyte Corp (OTCMKTS:ERBB) and DEWM all jumped notably during the Valentines Day trading session.

The lifting of the ban on banking for marijuana companies was certainly welcome news for pot stock enthusiasts, however, it is worth noting that there are some pretty strict restrictions and requirements on banks.

As it stands, financial institutions have been promised by government officials that providing services to legitimate marijuana businesses will not be prosecuted. That’s all good, but banks are also taking into consideration the fact that federal policy on sensitive subjects can change in the blink of an eye, and because of this tendency they are right to be sceptical about dealing with marijuana-related companies.

Although the opportunity to provide much needed banking services to a blooming multi billion dollar industry may seem alluring, the possibility of the whole enterprise turning sour at any moment may prove to be a bit of a hindrance for business in the days to come.

Presently the marijuana industry supplies a blooming market that has immense growth potential, but will remain extremely unstable and risky until a law on cannabis passes congress. Thus, whether the new “pot banking rules” will actually benefit companies or not remains to be seen.