Since starting off the month by naming former Microsoft (MSFT), Yahoo! (YHOO) Exec, Marco Hegyi, as their new President, the penny stock of Growlife, Inc. (PHOT) has been virtually unstoppable. Initially alerted here when the share price as just 0.05 and reiterated as a “buy” when it dropped to 0.04, PHOT stock has offered investors an opportunity these last few months like very few other shares have, up 291% since late August. Although the issued and outstanding shares of the urban gardening equipment provider for growing of medical marijuana is nearing 800,000,000, the chances of seeing the price continue to rise is about a likely as getting high on just one puff.
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PHOT Stock Quote
Market Cap: 84.64M
Last: 0.118 ▲ 0.008 (7.27%)
Dollar Volume: $1,169,522
Issued and Outstanding: 711,855,833
14-Day Rel Strength: 71.71%
1st Resistance Point: 0.1158
1st Support Level: 0.0983
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The marijuana stock sector faded away after the Spring, but the real companies that do more than consult or ope to have some form of Hemp based product to sell when the laws are all ironed out are putting up the numbers. Growlife, an SEC filer, has more than doubled their annual sales during the first 9 months of 2013 and the appointment of Marco Hegyi should help to get some legitimate financing deals lied up which should help 2014 numbers make this year’s look like mere fractions.
During the first 9 months of 2013, Growlife recorded net revenues from their wholly owned subsidiaries of $2,939,026 compared to just $776,125 for the same 9 month period in 2012. Although the gross profit from those sales was just $689,584 for the first 3Q’s of 2013, the better than 165% increase from $259,839 during the same period in 2012 was enough to keep investors wanting to see what was the next move.
With Hegyi’s extensive background and world class team building experience at market leading companies, PHOT is on the map with a big fat X and a circle around it now. Pissant research firms issued target prices of 0.22 for PHOT and now, with the addition of Hegyi and the acceptance the October investor presentation has received, that target could get shattered before the summer months approach making new buyers fa cats with a 100% upside from here.
About PHOT Stock
GrowLife, Inc. is a holding company with multiple operating businesses that manufacture and supply branded equipment and expendables in the USA for urban gardening, inclusive of equipment and expendables for growing of medical marijuana.
Last 5 Trading Sessions:
When MDDD and TGRO are just painful memories for longs who ge caught holding her bags, PHOT will still be in the top 20-30 traded penny stocks and still have some strong upside potential – even from these levels. Trading activity is slow right now and chances to get shares in PHOT stock prior to yea’s end at under 0.10 are sure to come around allowing those who patiently watch for a pullback to get an even better position.
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