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Surna Inc (OTCMKTS:SRNA) Stock Price Finally Bounces
ByRyan Mitchell Posted on March 28, 2019
Surna Inc. is a company that designs, engineers, and creates application-specific environmental control and air sanitation systems for cannabis cultivation. The company operates in the US and Canada, with its engineering team providing energy and water-efficient solutions. With Surna’s help, cannabis growers can meet the demands that successful cannabis cultivation requires, including proper temperature, light, humidity, and more.
The company prides itself for its long years of experience, and it doesn’t shy away from admitting failures that have helped it grow and develop into its most successful version. In fact, it claims it has become the industry’s expert, and it has multiple satisfied clients to prove it.
However, in terms of its stock price, Surna had suffered quite a lot in 2018.
SRNA STOCK PRICE ON THE DECLINE
SRNA price has experienced massive growth in late 2017, after a long period of relative stability. The growth started around October 2017, and it continued until mid-January 2018, with its price growing further and further up. When it started its bull run in October 2017, the company’s stock price was at around $0.100. Quite a humble start, but as the company says, many of history’s greatest success stories started humbly, including Google, Amazon, Microsoft, Apple, and even Disney.
By January 2018, the company’s stock price grew over four times, reaching the value of $0.450. However, the rest of 2018 was not nearly as kind to the SRNA price, with constant drops that affected this company, as well as many others.
Interestingly enough, while the bearish market did damage SRNA price, the decline was relatively steady. The company’s stock was declining, constantly, but sharp drops were quite rare. Instead, the bears continued to damage it slowly, but much to the same effect.
Around late November and early December, the stock market crash hit Surna, as well as pretty much every other firm in the US. The crash was bad, and it took SRNA price — which was already at the pre-2017 surge levels — to whole new lows, which is where the firm’s stock price ended the year.
SRNA PRICE TAKES ANOTHER TURN IN 2019
The drop finally stopped once 2019 arrived, and SRNA price even saw several small surges, although the damage was done, and its price’s average was at around $0.075. Most of 2019 until late March was marked by relative stability, with SRNA price going up and down around $0.075 level, but around two weeks ago, the price of Surna’s stock saw another sharp decline which took it down to $0.060 level.
SRNA Daily Chart
Luckily, this support managed to stop the drop, but it also marked the SRNA price’s lowest point in 2019. Things finally took a positive turn around March 25th, when SRNA price started seeing growth again. The growth is not a strong surge, at least not yet, but it did return the price to $0.065, which is where it sits right now. Further, fresh market data shows that SRNA price is growing by 9.01%, which many of the firm’s stockholders will undoubtedly be glad to hear.
ABOUT SURNA INC.
Surna is based in Boulder, Colorado, from where the company offers its experience in the cannabis cultivation space. Through many years of experience, the company has sharpened its expertise in this industry, offering the best solutions, and teaching its clients how to provide perfect conditions for successful and high-quality cannabis growth.
The company specializes in controlled environment, meaning mostly indoor and greenhouse cultivation. So far, the company’s customers included anything from small cultivation operations to large, licensed commercial facilities. Their systems and equipment were sold around the world, in areas including the US, Canada, Switzerland, the UK, and even South Africa.
The company is willing to work with any client, be they an expert in the field or a beginner, as they have to come to known both standpoints over the long years of their history. Every one of their systems offers a full range of services, which pretty much makes this company a one-stop-shop for those looking to build or design cultivation facilities.
SURNA IN 2018
Recently, the company issued its Q4 2018 report, claiming that the revenue for the previous year has gone up by over $2 million, compared to 2017. This marked a massive 33% growth, which is quite impressive, considering the unfriendliness that its stock experienced on the market.
The 2018 net loss is also noticeably smaller than in 2017, although the Q4 net loss was bigger than in Q3. Even so, it Q4 net loss in 2018 was considerably smaller than in Q4 2017, which is a very positive development.
In November 2018, the company also got its new CEO, Tony McDonald, who noted that the company ‘was not operating profitably or generating positive cash flow.’ Following his rise to the position of CEO, the company started re-focusing the business and re-calibrating what it does, as well as how it does it. In other words, McDonald aims to bring a total reset, and give the firm a fresh start, with the same knowledge and valuable experience it already had, but with new practices which will make it much more successful in the future.
The firm’s report also presented a new business model and strategy, commented on recent developments, and set up milestones and metrics for the future, particularly in 2019.
WILL THE CHANGE AFFECT THE SRNA PRICE?
The new management and the new year seem to have a better impact on SRNA’s price, as we have mentioned earlier. The end of the stock price drop is proof enough, and with the new changes finally being set into place, SRNA price might see considerable growth in the future.
In fact, this might be a good time to buy SRNA, as a new surge might be on the horizon. It is unknown whether or not it will come, but with McDonald’s attitude and firm plans for the future of the company, it would not be surprising if SRNA price reached its old heights, and maybe even surpassed them in following months.
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Disclosure: We have no position in SRNA and have not been compensated for this article.