GreenGro Technologies, Inc. (OTCMKTS:GRNH) Shoots Up The Charts

When the rest of the marijuana sector jumped yesterday, GreenGro Technologies, Inc. (OTCMKTS:GRNH) wasn’t left behind. Company share prices rose 53.41% in that session alone, with nearly 9 million shares changing hands.

As can clearly be seen, GRNH was already on its way up when the most recent news hit the web. Much like many companies in the branch until that point, GRNH stock prices had had a couple of impressive jumps on the rumors that President Obama is to nominate known marijuana legalization proponent Vanita Gupta for Assistant Attorney General.

That is why when CNN Money covered a couple of MJ stocks and the statements made on the Gubernatorial Candidate Forum of Arizona became public knowledge, the market exploded with activity and volatility launched the whole branch, including GRNH, sky-high.

Naturally, many other companies, such as Hemp Inc. (OTCMKTS:HEMP) and American Green Inc. (OTCMKTS:ERBB) also registered massive price gains, giving investors high hopes that the most volatile days of the marijuana rush are now back.

Still, as good as that may sound to opportunistic traders, it would probably be prudent for dedicated investors to remember that marijuana penny stocks carry in them the potential for great loss as much as for huge profit. After all, just like last time, these tickers are now soaring on hype and hope and not much else – and we all saw what happens when the hype dies or traders start taking profits.

As usual, due diligence should not be skipped, and this is especially true as in GRNH‘s case, because even a little bit of research on this particular company can reveal some pretty off-putting things. Suffice it to say that the company’s latest financial report was far from rosy. One glance at it makes it clear that the company’s financial foundation is shaky at best, and there are plenty of evidence of toxic dilution.