Growlife Inc (OTCMKTS:PHOT) Leads The Medical Marijuana Pack
The stock of Growlife Inc (OTCMKTS:PHOT) exploded yesterday, driven by the hype surrounding the first legal sale of recreational marijuana in Colorado. The race is on and PHOT seems to be leading it for now.
Unlike other companies in the sector, PHOT is issuing press releases that are keeping up the hype after several session in which all medical marijuana stocks registered impressive gains in price and jumps in volume.
PHOT itself added a nice 31% to its value in yesterday’s session and closed the day with a price of $0.1991 on the highest volume in its trading history. The total amount of shares that switched hands during the session came to a massive 91 million and generated some $17.09 million in dollar volume, which put them in the leading position of the medical marijuana pack.
Today, the company announced that Mr. Alan R. Hammer will be joining the board of directors, through a board seat allocated to CANX USA LLC, which is good considering his previous career expertise.
And while Medical Marijuana Inc (OTCMKTS:MJNA), Hemp, Inc. (OTCMKTS:HEMP) and Cannabis Science Inc (OTCMKTS:CBIS) started today’s session on a bad foot, PHOT is still gaining value and is already up 9.94%, at $0.219 per share.
It seems that the hype surrounding the medical marijuana sector is starting to get weaker, but we see that GreenGro Technologies, Inc. (OTCMKTS:GRNH) and Terra Tech Corp (OTCBB:TRTC) are still keeping an upward course, unlike the previously mentioned tickers.
This will surely bring an interesting week of trading after the weekend, so keep your eyes open and be sure to do your due diligence and weigh out the risks if you want to get a piece of the action.
