CannaGrow Holdings Inc (CGRW)

[Alan Brochstein]

This stock is headed a lot lower. I wrote about it publicly in October when it was $3.20:

CGRW is a great example of a stock that has far exceeded its potential due to hype. The company, which has been around since 2006, is in financial shambles, and the 17000-1 reverse split from 2012 should serve as a warning to investors. The company has no assets and no sales, and it has no access to capital. In my view, the stock would be overvalued at $10mm, which by my calculation (excluding convertible debt) would equate to less than a penny after adjusting for the Series A Preferred and Series D Preferred.