Growlife Inc. (OTCQB:PHOT) Recovers Some Ground – HotStocked

Growlife Inc. (OTCQB:PHOT, PHOT message board) had been on an ongoing downhill hike for a few sessions now. It once more reversed its pattern of erratic descent yesterday, by jumping 15.38% over the course of a single session – but will its upward momentum last?
The marijuana rush that is still gripping the US in the wake of the recent legalization has let PHOT to climb the charts above and beyond what its actual commercial standing could ever allow under normal circumstances. A quick browse through the company’s latest financial report is enough to convince any diligent investor that PHOT’s financial integrity hardly warrants its $412 million market capitalization:

  • Cash on hand – $190 thousand
  • Total current assets – $1.2 million
  • Quarterly net revenue – $1.3 million
  • Quarterly net loss – $1.8 million

The only thing helping PHOT to resist the faults that are pulling it to the bottom of the charts is its tendency towards publicity stunts. Its habitual self-promotions through media hype and hopeful announcements has managed to break PHOT’s descent on multiple occasions to date.

A similar turn of events unfolded yesterday. PHOT was on the decline and pumped out an enthusiastic, if otherwise meaningless, press release that nonetheless caught the media’s eye and was blew stock values out of proportion. Share prices soared despite the fact that PHOT announced that it had postponed the finalizing of the deal with RXNB Inc. for April 4, 2014. 

In light of these facts, it comes as no surprise that lately PHOT’s been called “overpriced” and “overhyped” by market commenters. What is puzzling is the fact that support from loyal investors can still manage to push it up in times such as these. Even more confusing is the fact that said supporters seem to be relentless in their conviction of company’s success, despite all the obvious huge red flags surrounding it.

This entry passed through the Full-Text RSS service — if this is your content and you’re reading it on someone else’s site, please read the FAQ at

Powered by WPeMatico

This entry was posted in Hemp, MMJ, Cannabis Stocks News and tagged , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback.