Skip to main content
  1. News
  2. Business & Finance
  3. Industry

Marijuana stocks in chaos: Growlife (OTCBB:PHOT) plummets, Transbyte resurfaces

See also

Growlife Inc.(OTCBB: PHOT) sent investors into a tailspin Tuesday, flopping to 0.674 -0.103 (-13.29%). This comes on the heels of the company's highest day in trading (no pun intended) Monday, trading at 0.7385, up 0.1505(25.60%).

Growlife had enjoyed some good press as of late with their recent announcement of a joint venture with Vape Holdings, Inc. (OTCMKTS:VAPE) to fund research and development of a "..patentable technology to create pharmaceutical grade extractions from cannabis." Meanwhile Transbyte Corp. (OTC: ERBB) returned back to the green today, trading at 0.0590 +0.0088 (17.53%).

[-More on Growlife This Week: GrowLife (OTCBB: PHOT) gets a jump in Monday's trading-]

Another surprise in today's trading comes from mCig Inc (OTCBB:MCIG), currently priced at 0.870 +0.099 (12.84%). Ironicially, like Growlife Inc.,this is also mCig's best month so far in trading. mCig Inc. is known for self-titled product- the mCig, "...the world's most affordable vaporizer that provides a superior smoking experience by heating plant material, waxes, and oils in hopes of delivering a smoother inhalation experience..." the company states. The company announced its first quarterly profit in corporate history today, and reported the following:

  • $85,000 in revenue reflecting an increase of over 580% over the same quarter in 2013.
  • Gross Profit was $54,474 reflecting a gross profit margin of 64%.
  • Shareholder Equity Increase to $1,321,736 compared to negative ($210,087) for the quarter ended January 31, 2013

Unfortunately, Growlife's performance today is just another example of the instability in marijuana stock investing and the volatility it can bring to any small cap investor's portfolio.

Follow Live$tock on Twitter

Advertisement

News

  •  Day 17
    Israel continues their ravaging bombardment on Gaza as the conflict wages on
    Video
    Video
  • MH17 victims arrive home
    40 bodies of the MH17 plane crash return to a somber homecoming in Holland
    Top News
  • Military advisers to Ukraine
    President Obama announces the deployment of military advisers to Ukraine
    Politics
  • Bubonic plague in China
    A bubonic plague outbreak in Yumen prompts China to quarantine the city
    World News
  • Air Algierie disappearance
    A flight headed from Burkina Faso to Algeria disappears from radar over Mali
    Headlines
  • Windows Phone training portal
    Microsoft launches Windows Phone training portal in attempt to woo consumers
    Tech