GreenGro Technologies, Inc. (OTCMKTS:GRNH) Gains Momentum
Marijuana stocks are competing to have the most impressive growth spurt, as new laws come into force with the first day of 2014. GreenGro Technologies, Inc. (OTCMKTS:GRNH) added more than 40% to a price of $0.104, on buying volumes of above $2.1 million. The volumes were a bit weaker than the spike last Thursday, yet made for a wildly optimistic end of the trading week, a breakthrough in price unseen since the beginning of 2013, and possibly a continuation of the trend. 
GRNH found its place in various commentaries from stock analysts, mentioning it among the leaders of the medical- and already, also recreational, marijuana industry. It is still encouraging that GRNH rises without a boost from paid promoters, and while the ticker is among the smaller players, the sky is the limit for this industry. GRNH has easily visited the 20-cent levels, so the ticker is also showing a strong shorter- term possibility.
The financials of GRNH are typical of a company that is not in full gear, but is becoming more active. GRNH has taken the hydroponics chunk of the cannabis business, and showed the following results:
- cash: $4.9 thousand
- total current assets: $42 thousand
- total current liabilities: $156 thousand
- revenues: $7.2 thousand
- net loss: $221 thousand
The financials, of course, will lag the stock price, which may be on track to more than triple in a few short weeks. The question is how long-lasting this climb is, and how long investors’ nerves will last before at least engaging in a short-term round of profit-taking.
For TerraTech Corp. (OTCBB:TRTC), the trend switched on Friday, taking the ticker down 6% to 15 cents on significant selling volumes, reversing a day of active buying before that.
While there are all the reasons to like the sector, for the long or short-term potential, in the case of GRNH there are enough challenges, such as securing better revenues. Investors’ forums show awareness that GRNH has turner into a momentum play, and this may continue for a while.
Still, individual stocks may move in ways that defy the logic of the whole sector, so if you pick one of the separate companies, especially the fast movers such as mCig, Inc. (OTCBB:MCIG), you better be able to afford the setbacks.
