Marijuana Stocks are on Fire and so is PHOT!
Growlife Inc. (OTC: PHOT) is making a highly explosive move up on massive volume off its base a little under a nickel. The move comes as Cannabis stocks across the OTCBB hit bigger highs and trade bigger volume then they ever have before.
The massive attention on the sector comes as Colorado launches the first legal US sale of recreational pot. The launch is marked by massive lines and many are predicting that the sector could be worth as much as $10 billion a few years out in Colorado and Washington alone.
Along with MWIP, MDBX and several others PHOT is one of the stocks getting most of the attention this time around. The Company is already well established in the industry offering marijuana growers with the tools they need to thrive through wholly owned brands such as Stealth Grow LED, SGsensors, and Phototron. Growelife also owns cannabis.org.
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Original article: The explosion in PHOT and marijuana stocks in general is a side affect caused by the media blitz created by activists with ballots in Arkansas, Missouri, Pennsylvania, Illinois, New York, Massachusetts, and Ohio. You also have industrial hemp on the ballot in Colorado, New Hampshire, New Jersey and New Mexico. Then they're trying to legalize the recreational use of marijuana in Colorado, Washington and Oregon.
You have groups such as Marijuana Policy Project, Law Enforcement against Prohibition, Americans for Safe Access, NORML and many others that spend their marketing dollars in a very particular way; they wait until 2 weeks before the election and then start a massive media campaign… an all-out blitz to educate people so they can vote yes!
GrowLife, Inc. is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include Stealth Grow LED, producer of hi-powered LED grow light products for indoor horticulture stealthgrow.com, Greners.com, the online hydroponics superstore. greners.com and Phototron, producer of hydroponic growing containers which are designed to grow vegetables, herbs, flowers and fruits in any environment phototron.com.
Over the past few days PHOT has added 3 new board members; Joining the GrowLife Board of Directors and filling Board seats provided to CANX USA LLC via the recently announced Joint Venture and capital pledge of up to $40 million U.S. for acquisitions, growth capital, and its GIFT program are Jeff Giarraputo and Anthony Ciabattoni.
Jeff Giarraputo is co-founder of the global advertising agency Factory Design Labs, now the visionary leader in customer creation for culture-driven lifestyle brands such as The North Face and Oakley. Factory has offices in Denver, USA, Shanghai, China and Verbier, Switzerland. In 2004, Mr. Giarraputo co-founded Beatport, the largest music store for DJs in the world.
Anthony Ciabattoni consults with a number of private equity companies and serves as an advisor and board member. He is also an investor and mentor in several start-ups and later stage companies.
Alan R. Hammer joined GrowLife via a Board seat allocated to CANX USA LLC, GrowLife's recently announced Joint Venture partner which has provided the Company with a capital pledge of up to $40 million U.S. for acquisitions, growth capital, and its GIFT program operating in the legal cannabis industry.
Hammer is a veteran attorney and advisor who has concentrated his law practice in the areas of investment real estate transactions and tax appeals, representing the purchasers and sellers of office buildings, shopping centers, industrial facilities and apartment complexes since 1971.
Conclusion: PHOT has seen an explosion in price and volume in recent sessions moving 400% in less than a week. Currently trading at a market valuation of just over $140 million OTCMAGIC has been reporting on PHOT since it was trading at less than a $10 million market valuation. A lot has happened since then; PHOT has seen its revenues triple this year; for the 9 months ended September 30, 2013 PHOT announced $2,939,026 in revenues as compared to $776,125 for the same period the year before. PHOT is fully reporting here and the Company is quickly gaining a loyal following. PHOT trades at a very high market valuation of $140 million and if this stock was in any other sector I would call it a sell. In the Cannabis sector however, all rational projections are out the window. Considering the massive volume PHOT is liable to go much higher.
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