GrowLife Inc (fka PHOT)

[StevenRisk]

New York, NY – (NISMAGAZINE) –10/03/2013- Growlife Inc (OTCBB:PHOT) crashed 8.35% to $0.0560 after trading 9.07M shares. The company has been touted by analysts as one of the most promising in the recreational marijuana space, and this week launched its website called Cannabis.org – intended to be the ‘go-to’ site for “all things under the cannabis banner, from recreational and medicinal use, to political and social discussion.” On the daily chart, the stock formed a bearish engulfing pattern that indicates that bears are likely in the driver’s seat.