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There isn’t even need to scream at this point. A simple whisper and topple this house of cards.
Update on this:
Someone just sold 200 shares at 1.80 to get $360 out of it.
Not suspended yet, just immediate loss of interest. More drops to come as people perform proper DD.
I did see the average volume should be much more than this, but don’t know if those statistics are factoring pre-r/s volume. Buying this at under a penny with that volume would have a pitiful $ amount tied into it.
One thing everyone here should be worried about is the volume pegged at 10,184 for over an hour without moving.
Either no one wants anything to do with this company or the SEC just suspended trading on this ticker for investigation.
Pretty much.
Either there is no interest here or the SEC moved quickly to halt this scam and protect the public.
0 volume after the first few minutes.
Caveat Emptor.
What was the price prior to the most recent R/S?
Do we want to sticky this post? Better DD than I’ve seen from anyone on here.
What do you think she contributes to earn that $100k salary aside from her for ‘12 years of experience in drinking’ ?
lol, they’re trying so hard to bring this down.
I’m definitely relieved to see a pullback at this level. Bought during this dip with what I had left to spare.
Wow, so not only are they still massively in debt, but they somehow got themselves an extra $40 mil in debt since I was last here?
I saw they bankrolled a trip to Europe on the shareholders and used it as pump-fiction to somehow promote value?
If you need to go to Europe to ‘gain new insight’, then not only are you about 30 years late - you are also doing it all wrong.
How many patents has patent and technology guru Marco Hegyi secured in the name of Growlife?
Is that what’s happening?
I bought a little when it dipped midday today, but are you saying that you went all in at the top of the chart?
The immediate gratification bias instilled in modern day investors really is heartbreaking.
Yah, it doesn’t look like we’ll see another .05 to .78 rise like the one I rhode in 2014. I highly doubt anything big is going on anymore, but it sure was back then.
What are these guys even selling at this point besides shares?
The reason to buy PHOT used to be that these guys distributed a whole bunch of grow supplies. I called their service team in 2016 after another leadership change and they were only stocking from vendors as they received the orders, meaning shipping times and prices were doubled - even tripled in many cases. Those aren’t competitive strategies to keep you in the game long term. The lady on the phone was nice, but also implied stock was very limited.
They are a far cry from when their supply sites like Greners.com were still well known and reputable. I’m seeing that the site now forwards me to what looks like a defunct growlifeeco.com.
Sure I’d like to believe in a comeback story, but aren’t we too far gone at this point?
Looks like they’re just using shareholders to pay off their many many millions of dollars in debt at this point.
Bought the only dip I could find today. Take care out there.
A moment of silence for all the burnt up shorts out there. Poor guys.
I used to be a holdout for this company. I was particularly bullish when Marco returned this stock from the grey market.
But to go through all of that to screw your loyal shareholders and enrich company leadership? No, unacceptable.
Sure you need to earn a livable wage, but to pull more than you’re owed by completely fleecing your shareholders? Bad move.
I remember them being deep in the red in terms of debt. Makes you wonder why they don’t just claim bankruptcy and close up shop already.
Anyone shorting at this point has got to have some huge cojones.
I’ve had a modest hold for a while now, but I’ve been hoping to double up on the next dip. It hasn’t pulled back and they’re posting record financials. What dip?
I keep telling myself that we’ll get a pullback soon. It’s a solid company though, and one of the cleanest I’ve found in picking through an absolute heap of cannabis stocks.
Maybe we see a drop soon? Maybe they settle around $4 and consolidate for a bit? Tough one to call.
Would love it if they put Stanz behind bars.
Don’t trust a guy with an Optimus Prime avatar peddling stock tips.
Wow, and here I was expecting a dip. Way to go MDCL.
Very steady, I’ve liked this company ever since they gave documentary access for the progress in cannabis.
They hosted a very clean set of units and allowed camera access. Transparency you don’t see from a lot of businesses.
I’ve really appreciated their professional approach to the industry. Granted the stock price has been kind to us in the last 6 months so I’m expecting to dip after all this uptrend. Not something anyone wants, considering how undervalued this price seems.
I’ll be ready for it if it comes. Uptrend and high RSI tend to attract the short interests, but this is a sleeper with room to grow.
Wish I’d have kept some fiat on the side for a dip like this one.
Ugh
This is about the only one I’ve had some pretty bad losses on.
Their more specialized approach keeps me hanging on.
I was patient at $6, and will be at $15 as well.
I’ve seen a lot of pot stocks go through the reverse split, and they always run up in value just prior to the split.
Once they split, it’s usually a downward trend anywhere from 4 to 12 months.
Marco did throw in the gift of acquiring a decently known brand of cloning. Good move on his part considering how much cloning has gone mainstream due to the necessity of keeping certain strains alive.
I’m still out until after the whole r/s drama has been settled, but it is positive on their part to be making these moves when a lot of people are dead set that they’re going under.
Marco is no god, but he did restore trading - credit he deserves.
Likewise, he is also steering the ship full speed towards the iceberg. Also credit he deserves. It appears they believe crashing the ship is the best way to catch the first life raft.
A shame for the sector, in great thanks to another round of dirty politicians pulling the strings and being lobbied by parties who favor pointing law enforcement in the wrong direction to line their pockets.
We’d have had a much different last 9 months of trading had it not been for the fear mongering of a catastrophically corrupt Jeff Sessions, but that doesn’t excuse Marco’s lack of action. Marco is ineffective in social media, company expansion and inking deals in general. You have a massive market in Canada, your items can be sold all over the world and you do NOTHING to capitalize on any of that? Not one inked deal in how many years?
Aside from restoring our trading, Marco has been slow. So slow in fact that it almost makes you wish for the old Sterling Scott and Rob Hunt duo - despite the fact that they’ll forever live on as rats who scurried off a sinking ship with millions in their bags. At least they were dealmakers.
I got out already and have been one of the most adamant PHOT supporters on this board. Not that I don’t plan to get back in anywhere from 6 months to a year from now when operations and share price have corrected.
The vote will pass, just like the last vote to increase shares. I wouldn’t waste time waxing philosophical about how ‘maybe’ the R/S won’t happen. Although people are a tad too dramatic calling that a ‘kiss of death’ over ‘delay of game’.
Holders might see a small uptick right before December, but value will crash just as we’ve seen with other closely aligned tickers who went through the r/s drama. Interestingly enough, once the r/s happens, there usually is a period of several months where a stock loses value until stabilizing. Marco knows this, and likely sees dumping more shares into the market as the only way to keep the company alive. Shareholders hate this, because the plan relies on them losing value on their current investment in the short term, with no guarantee that it could rise up and account for their losses in the long term.
If you’re invested and interested in protecting your money, I wouldn’t roll the dice on more than one could afford to lose until all this reorganization is done. If you believe in their plan and this company no matter what, then feel free to remain invested. I’ve followed the company many years now and never found a grow supply investment as reliable - until all this R/S nonsense.
Still, you see a lot of people talking down on the company and not being able to point out a supplier with a worthy public stock to purchase, which is likely why Growlife has such a cult following among those who believe in the whole ‘picks and shovels’ gold mine investment. It’s still a great plan for investing in this sector, but not in this particular company for another 6-9 months.
THCBF looks like the next big up and comer! Wow
Wow, glad I bought more yesterday.
I’m not able to look it up, but it seemed like ascending order. .012, then .018 and then what, .02?
It’s really a shame, though. You’d expect news from Marco about new directions, successful products, avenues of income, inking deals - all the things that made PHOT attractive in the first place.
Even the GIFT Program back in the day was better than this garbage offering and shareholders know it.
Marco is getting public call outs on his social media accounts and the company rep is taking another hit for the executives to sell you shares in order to finance their overextended lifestyles. Amazing how rare it is to hear about CEOs taking paycuts until they’ve molded a successful company.
I’d rather watch this all unfold from the sidelines than be in - particularly after the R/S.
Really a shame, most people investing in this sector have seen the same song and dance with others. People know better at this point and will run from a company much faster. Look at that breakdown. Marco had to have known this wouldn’t go well.
Once an industry trendsetter, now just a neighborhood bedwetter.
RIP the glory of 2014.
Marco definitely marked the gravesite here.
One of the most relieving feelings is to sell a big loser.
How come it won’t go below .01 right now? Everyone’s getting out
What’s with all the buying pressure?
Its not so much the share offering or ‘subscription’ that turns me off, but the R/S is atrocious in idea alone.
The only GOOD thing I’ve seen come
from an r/s is a brief run up in price prior to it happening, but I will never EVER hold something through r/s because they always always always take a massive drop in price right after the split. It would be financial suicide for someone to keep their money in through a reverse split.
I will say that this looks like a bad deal for investors unless Marco comes through to clear up some of this generic jargon to make sense for their ‘committed longs’.
I don’t see this as a good move unless you’re going to follow this up with a breaking deal made in Canada, or some semblance of confidence. Only new deals being inked are the ones that hurt long holders at this time.
Absolutely possible, but not likely a long known opponent of the cannabis sector.
Jeff said a few harsh words about the sector just days after California went online and absolutely crippled the prices. Billions $$$ vaporized, popping a very small bubble of uptrend starting to form.
Plus side of it all? Cheaper shares. The minus of more wait time is a drag, sure.
Chances are that a president big on business won’t put another unpopular guy in his stead, but we shall see - nothing is certain!
Way oversold, yes. Also, the controversy in Trump vs Sessions spices things up.
In 3 months time, we don’t know where we’ll be politically - but most people bet Sessions being out. This includes top Republicans signaling that Sessions will be out after elections.
I follow over 100 of these tickers, good and bad. It appears most of the legitimately operating pot stocks are doing well today.
This sector is strongly averse to Sessions. The sooner he is gone the better.
Entire sector or just a couple Canadian stocks?
We were down 1% whereas I’m showing anything up was about 3%
The US plays sure are a lot more finicky than the Canadian slow rolling big gain holds though.
That would be an amazing gift.
Better that way for everyone to be honest. Particularly in setting up a market in which quality needs to be regulated.
Equipment sales get bumps from states legalizing, but I can’t imagine the funds that national legalization will bring.
Corona placing 4 billion into Canada, but you know they’d spend American if they were allowed.
You’d expect something soon at least.
Who knows, could be quiet for a while.
I’m waiting on an ousted Jeff Sessions to free up this sector a bit, but you can’t be certain that his replacement would be on board. High % chance he gets the boot, but you can’t ever be 100% sure.
Still, you have to think that every politician sees the writing on the wall at this point. Alcohol companies folding and paying to be a part of the push. Real money to be made in all this, and who doesn’t like that?
Banks are seeking just the same, staring at open wads of cash that can’t be deposited. Everyone has been up in arms about legalization for decades, but never ever has the money pressure been this high. Money talks, and we can likely expect a big event about legislation coming up soon. Lots of companies are going to pour money into lobbying for a piece of those laws, just like every other industry has and will continue to do in politics.
Trump would get a ridiculous boost out of this, so you know the guy has to be on board. All this talk touting triumphant jobs numbers would have a big bump on legitimizing it.
Just need congress to get the ball rolling on things and some more understanding DOJ officials.
Fire sale over :(
Ugh, while it’s a good show of strength - I was tempted to add at .015 and didn’t pull the trigger.