There have been some developments in a handful of cannabis related companies in the past few days.
Tag Archives: GrowLife
Marijuana is one of the fastest growing industries in the nation. Hundreds of millions of dollars have already been made this year, and by the start of 2015 it is estimated to reach over $1 billion. As a budding herbal entrepreneur, you want to seize every cannabis-related opportunity you can find, but as I warned in June, prudence is often more profitable.
With marijuana legalization riding high, investors are looking for ways to play the trend. So far, though, even the biggest companies in this green rush have yet to turn a profit.
Every day investors look at their stocks and wonder: is this going to be the next big thing? When you are researching potential stocks to buy, it is only natural for your eyes to light up when you see a cannabis-related stock. You may initially think, “Oh boy, this stock is going to be huge!” Don’t let yourself be fooled.
When the SEC temporarily suspended the trading of GrowLife securities (OTCMKTS: PHOT) on April 10, it sounded an official fire alarm. Maybe GrowLife was simply sending smoke signals, but the SEC’s suspension was lifted yesterday and it appears many investors feared the company was in flames. Forbes reported stocks plummeting 60 percent before lunchtime and by close of trading, the stocks were down 58.17 percent.
Faulty information regarding the legitimacy marijuana marketplace information has given way to GrowLife’s (PHOT) plummeting shares.
Nearly a week ago, the SEC put a heavy limitation on trading shares of GrowLife (PHOT), which is expected to last until April 25th.