They are not meeting targets. Their balance sheet looks much worse than last quarter. They don't seem to be selling as much in each store. Their model involved acquiring stores and scaling as quick as possible. it only works if the same store sales keep growing.
Silly reason: they miss their target by 35%. This is a penny stock, not a long term investment obviously. Just be careful. I've done it before- with Concur Technologies (.93-$97 today). They never missed estimates for 48 quarters. This company missed their estimates in the first quarter I bought shares. I'm out because of their mismanagement. Plus there's 650M shares out there. Concur today only has 56M shares and it's market cap is 5B dollars. When I invested their cap was 25M, about the same size as PHOT a couple of months ago. I did sell on Friday.
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