Marijuana Stocks: While Medical Marijuana Inc.(OTCMKTS:MJNA)remains in the red, Growlife Inc. (OTCBB: PHOT) leads Monday's trading. Growlife Inc, a company stereotypically bundled into the list of marijuana stocks buzzing the market right now, found its way at the top of that conversation today, currently trading at 0.7385, up 0.1505(25.60%).
The company ended last week's trading at 0.58. The current price is its highest for the year.
Known more for their business in the cannibus industry, the stock price jumped on news the company had joined up with Vape Holdings, Inc. (OTCMKTS:VAPE) to fund research and development of a "..patentable technology to create pharmaceutical grade extractions from cannabis." Growlife, in a press release today stated the next step is to execute a definitive joint venture agreement on or before April 20, 2014.
Along with Growlife, Vape is also managing to take advantage of the attention, trading at 32.40, up 2.46(8.22%).
Meanwhile $MJNA continues to struggle, currently trading at 0.321 -0.009 (-2.79%). Last week's leader Transbyte Corp (OTCMKTS:ERBB) is currently trading at 0.0497, up 0.0103 (26.14%).