GreenGro Technologies, Inc. (OTCMKTS:GRNH) Fluctuates Around Half a Dollar

GreenGro Technologies, Inc. (OTCMKTS:GRNH) had a roller-coaster of a session on Friday, managing to rise a mere 2.17% despite the sector-wide surge that overtook the market on Valentine’s Day.

GRNH certainly had some good news pushing it upwards that day. The promise of government officials that banks will be allowed to do business with legal marijuana retailers was universally taken as a important step towards the legitimization of the cannabis branch. It is true that providing services to pot stock companies and cannabis retailers alike is a risky move for any financial institution, but legal marijuana has created a $2.34 billion industry over the course of two months. Said number is expected to grow to five times that amount in five years – a virtual commercial heaven. Surely the news that the growing industry will be allowed access to banking would have been exciting enough to push the ticker up?

Evidently not, as GRNH opened pretty much where it closed the previous day and slumped dangerously mid-session. The company reached a low of $0.421 before surging up to as much as $0.517 and then closing at $0.47 – right back where it started.

This ineffectual fluctuation was more than a little odd, especially if you consider the fact that GRNH had more good news going for it that same session. The announcement of the company’s “alliance” with advanced solar solutions manufacturer Solaris Power Cells (OTCBB:SPCL) was just a bit over a day old at the time. By all accounts, it alone should have been enough for to push the ticker higher up the charts than GRNH went on Feb. 14.

Interestingly enough, despite the exciting news, more than a few companies failed to rise on Friday. HEMP, INC. (OTCMKTS:HEMP) and Cannabis Science Inc. (OTCMKTS:CBIS), who are usually on top of the marijuana game, both had a slow ession on that very same date. Other companies, such as Tranzbyte Corp (OTCMKTS:ERBB) and Dewmar International BMC Inc. (OTCMKTS:DEWM), exploded inexplicably.

Which just goes to show how fickle the pot-stock market is presently. Investors would do well to heed the advice of the FINRA and do extra due diligence before committing to high risk stocks.