GreenGro Technologies, Inc. (OTCMKTS:GRNH) Sheds Half of Value After Wild Run
In the past week, we always had the question open of when the first profit-taking and corrections would take place. And now, ahead of the weekend, it seems they are happening en masse. The more significant one is GreenGro Technologies, Inc. (OTCMKTS:GRNH), which for a while stood at the top of the OTC trading activity. GRNH was so confident in the few days back that it was marked to see dollar levels soon. But now, the ticker will have to fight it a bit more. 
GRNH slid back more than 52$, back to 38 cents, after touching 80 cents intra-day. Dollar volumes were above $22 million as more than 25 million shares were shed. Still, last week came with enough buying, so that now we have a potential group of loyal holders- and further ones who want to bail out. Since the beginning of the run, GRNH now made a net gain of about 400%.
What is even stranger is that for GRNH, a promotion was added on January 8th. This was a no-compensation operation, probably to boost the ratings and achievements of pumper Blue Horseshoe Stocks. The message was not particularly tailored to GRNH, just to the general upward drive in pot stocks, with several leading tickers mentioned.
TerraTech Corp. (OTCBB:TRTC) was the other star mover that could not feed the giant demand- selling dragged this stock down 29% to 26 cents, on selling volumes above $10 million. As it is easily seen, the correction was sharp and sudden, rather than tentative.
But a new batch of tickers is getting ready for more of those robust intraday gains. Mcig, Inc. (OTCBB:MCIG) remains strong, adding 30% to reach a price at 18 cents, on record buying volumes of $2.9 million. MCIG is a more cautious climber, but it is also a sudden event as to when tickers will choose to rise suddenly.
The sector is still fermenting, and we can’t know when and what tickers will bubble up to the top. The corrections may turn out to be healthy, inviting more buying. It is best to be aware of the risks related to such a high exuberance, and avoid investing unless you can afford losses like that of GRNH or deeper.
