Growlife, Inc. (OTCBB:PHOT) Continues to Gain Value
The stock of Growlife, Inc. (OTCBB:PHOT) was doing pretty good in the final days of November, but started this month rather slow. Things, however, have changed recently and the ticker is gaining more value, climbing higher in the charts.
The company is regularly uprating the shareholders on its development and we might say that they are one of the most optimistic new businesses, that seem to be headed towards future success in the medical marijuana business.
After announcing that former Yahoo!, Microsoft executive, Marco Hegyi has joined the team as President of PHOT on December 9, we saw an optimistic interview with Rob Hunt, executive vice president of the company and his PR Kurt Divich.
The interview emphasized on the current company development and future plans for expansion leading to a decent gain of 20% in price yesterday and a close of $0.139 per share on a high volume. The total amount of shares that switched hands in the session came to a whopping 34.3 million and generated $4.5 million in dollar volume.
For now, PHOT seem to be working hard on developing their business as it is visible by the latest financial report of the company, which we covered in our previous article, that boasted quite the increase in revenues, but also a higher net loss.
Considering the rapid expansion of the business the losses aren’t that significant and PHOT might turn into a profitable long-term investment as soon as they become more stable. That, however, is for time to tell and we would advise you to do a lot of due diligence and weigh out the risks for yourself, before jumping in the bandwagon.
Petro River Oil Corp (OTCBB:PTRC) also had an impressive session yesterday, in which the company stock climbed 33.33% in price on the highest volume recorded in the past 3 years of trading. Xumanii International Holdings Corp (OTCMKTS:XUII) on the other hand, dropped 17% after a long period of ascending the charts, just as predicted.