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Yes, this is what I’ve been saying. Good to see Hegyi echoing these sentiments below -
“Marco Hegyi, CEO of Growlife Inc, a nationally recognized cultivation brand, said he does not anticipate an impact on GrowLife’s business. “The legal rights granted by the California government to its citizens is a political issue that is beyond our control, however, we do not see it impacting GrowLife’s business,” he said. “GrowLife sells ‘picks and shovels’ to cultivators and does not sell the cannabis plant. Therefore it does not see a reason to have any more legal exposure than the electric company, water utilities or facilities provider in providing its supplies to its customers.””
Trump is great at firing people. Might be his only strength. Time to let Sessions go.
Also I’d like to remind folks that as a grow equipment supplier, PHOT is not nearly at as much risk as many other publicly traded companies selling cannabis products. Still legal to sell the equipment in all 50 states, Canada, and beyond.
There will always be a market for this and has been since the 60’s. Whether underground or mainstream, those growers have always had to source their equipment from a supplier.
Tough day everyone, I know the entire sector is feeling it right now. Billions have been lost in just half a day, but it won’t be a loss if you hold on for dear life.
Eh, I don’t think that’s entirely necessary. Announcing acceptance in crypto payment may help, but it’s becoming easier to change crypto to USD every day.
We may have seen the worst of it. Probably won’t get any worse after sessions speaks because the market already expects it.
Time to show these fraudulent politicians we mean business and won’t be scared away. This industry will never die.
And to think, these are the guys who are supposed to be in favor of state’s rights with less federal intervention.
Heck of a buying opportunity out there, but the fear won’t last.
Calculated is right. Sessions and co making a fortune before our eyes.
Cronies will get all time lows and not one of them will get jail time.
May as well join in on the feeding frenzy. I bought more.
Bounce? Maybe slightly. Honestly depending on what Sessions says, we’d be lucky to close anywhere near 3 today.
Recovery? Yes in the long term. A lot of buying into this dip otherwise the RSI would be in single digits like we saw yesterday.
Ha, I’m your dreams. This scare has made shorts happy and brought in new lows for buy ins, but the industry is here to stay.
Billions in the market taxed heavily while states are struggling to find funds. This is short lived political manipulation.
Not awesome, but a tremendous opportunity for purchasing, which I did a little more of.
You’re blaming this on the company?
LOL
Are you even aware of the news from the DOJ friend?
Entire sector down anywhere from -10% to -50% whole a few have fallen even further.
Oh the joys of politics.
Ha, I stand corrected. Open optimistically to a giant dip. Wouldn’t be surprised if Sessions and his buddies making bank off of these silly games.
Sector unshaken by hollow threats. Impressive. Even if all legalization is stopped tomorrow, Growlife is still the best bet for US and Canadian supply.
One report said, ‘will allow states to decide how they enforce mj laws’
Another said it would leave it up to US attorneys to decide whether to aggressively enforce mj law.
Witch hunt that won’t amount to much, but it will be interesting to see how the sector reacts this week. Will the money shy away? Hard to tell, but at least Growlife is fully legal and not directly involved in the substance. Maybe people see it as a safer bet to put money in with grow suppliers than the companies involved in the direct selling of cannabis products.
It’s a developing story, and the legal industry in the states is already into the billions. I don’t see it stopping cold.
Good write up for folks, since Growlife is fully reporting, it’s a matter of maintaining price point, uplisting and going further.
Like you said, it isn’t a guarantee of value being raised - however it should attract more attention considering it would be viewed as ‘more stable’.
Mighty fine 1 month chart as well.
Correct, one of the few pot stocks that can sell their products in all 50 states, Canada, South America, etc - basically any place that hasn’t completely banned grow equipment.
It’ just the tents, fans, filters, suspended light frames, LED fixtures, cooling systems, hydroponics assemblies, and regular equipment - but consumable equipment that will keep things rolling.
Buyers can’t just pick up a whole grow setup and never have to buy again. Nutrients, bulbs, soils, coco mediums, various hydro equipment, filter replacement, and on and on and on. Bulbs are switched often, nutrients are drained quickly and even the new aged LED tech will eventually need replacing.
A revolving door, people will keep coming back for more.
Yessir, was saying this yesterday. Any sort of financing like that would be a very short lived experience. If it didn’t close out already, it will be soon.
Quite a bit different than a seasonal trend here. Phot has had a LOT to overcome in the past four years. Grey market, reinstatement, improvement of operations, expanded market coverage, etc. they kept the company alive even during the long duration where it couldn’t trade. Most brokers wouldn’t even allow you to purchase.
Today things are much different. Marco making good on his word, though he still has a long way to go.
I watched the RSI dip to 6 and spike to 46 in mere moments. Interest is strong here, but it’s the responsibility of Growlife’s leadership to elaborate on how they will increase value further into 2018.
Is that why RSI For the day is sitting at 7?
This is very good for the stock to pull back. Finally, now we can get to the next level.
Much appreciated. For now I’ve thrown in what I can afford to lose. If they show real signs of forming this into a solid business, then will get the big blocks rolling.
I want to see evidence from them for which cryptos they are mining, collective power of their rigs, and also a sharecount reduction.
Anyone remotely knowledgeable in tech can set up a mining rig, but hopefully these guys have what it takes to scale up.
Just as long as we let the gap close. People buying in at a flurry not letting it get there. Love to see, but better to get it over with and come back up.
Fill the gap, get to the next level after, leave nothing on the table.
I’ll buy, but just need to know if the leadership can be trusted to follow through. That sharecount is keeping me out until I understand why.
Feels bad for the guy who sold this morning.
Will probably be a gap filling opportunity coming.
Hey guys been watching this one. What’s with the share count? Mining crypto is great business, but did I read this right that there are BILLIONS of shares?
Did the gap fill? Didn’t look like we made it all the way.
Gap preparing to fill.
Likely up then down. Profit takers will be out, though many will stay. Certainly seeing higher highs. Will be surprised if it closes above .04 today.
When the hype dies down, phot will remain at the forefront, just like they did when investors realized the best companies in the sector in the last big mj rush.
Speaking of being at the front, is that a pre-trade gap up at .042 I’m seeing before open?
VERY good close, 4’s on the horizon.
The volume has been absolutely amazing. Presence in California and Canada has been important.
This is all happening before news, uplisting and company developments.
Wouldn’t surprise me if this calms down for a few days before hitting the next leg, but I won’t complain if we see 5 this week.
All into the pocket of Stanz. Sometimes I look at my old stock account that has 120k shares of RIGH and ask myself what I was thinking. At least that bad decision didn’t cost much.
1 month chart resembling a failing aircraft.
Tell the pilot to pull up! lol.
Seeing RSI go lower and lower, but I see a positive in that.
Doesn’t take a lot to move back up, but the same goes for folks looking to move it down. Easily manipulated.
I consider it more of a symbolic level to pass in order to be considered stable.
A lot of people calling for moonshot here, but it likely won’t happen as quick as most are saying.
This here ‘lil piggy’ is sure to shape up and lean out shortly. With this kind of interest, expansion is a given.
They just need a reason for upside buying pressure.
This poor thing can barely reach 1m volume in the first half day. 25k in total trades won’t get us where we need to be.
USRM will have its day, but the company needs to come out of its shell a bit as well. So Tomas and Comella, come on and get some help on your RMAT pursuit, then enlighten shareholders on the goals your company has set for this year.
LOL, I’m sure they’ll start allowing orders to be paid in crypto if they haven’t already.
.05 is a big number for this stock to overcome. 2014 saw it bounce .05-.06, fall down then shoot back up again.
If they pass into .06 and hold steady above it, all bets are off for me. Other holdings will be sold to increase my position here.
Let’s see a climb back into the 3’s this week.
I reduced a little at the end of 2017, but still hold a nice tidy position that I see no point in selling.
The two have no correlation sadly, and crypto is here to stay. Bitcoin may take a severe drop, but new winners like ethereum will take over.
Crypto is the way the current generation is giving the finger to the banking institutions of past eras. The institutions are scrambling to capitalize on it just as hard as consumers are.
2018 will be a great year for crypto, but let’s hope it is for USRM as well.
Anddddd, it’s gone.
USRM shareholders 2018. Losing money and loving it.
You haven’t heard of Growlife?
So what are the other big name grow supply companies that will be major players? If not PHOT, then who else? It’s one of the most major players on anyone’s radar. Hence why you were attracted to this board.
Good luck and have fun!
I have a feeling when it comes to ‘dilutive financing’ that it will be a very short lived endeavor to perform expansion and close it out.
Would like to see a reduction in share count for the future as well as financing secured by better means.
No one expected this company to survive after the suspension, and no one expected the stock to be trading again either. The pressure and doubt on Hegyi has been wild over the years while he sets things right. Can’t believe it, but he’s actually correcting the course.