By Jim Bloom Posted on February 12, 2018
The bearish run that had previously hit GrowLife Inc (OTCMKTS:PHOT) came to an end back in November 2017. During that period, their share price moved from lows of $.005 to $.01 and later to highs of $.0495 as seen in the chart below:
However, their share price later plummeted in January in line with the other companies within the cannabis sector. Over that period, their share price fell from this high to $.013 on 6th February. Two days later, courtesy of a new release from the company, their share price had risen from this price to highs of $.025, finally closing at $.0194 yesterday, representative of an increase of about 50% to its closing price.
View the company’s price action in the chart below:
With the share price having been affected so significantly by the new information, we decided to have a look at this data and assess how it will affect the long-term financials and prospects of the company.
GrowLife Inc was incorporated back in 2012 and headquartered in Washington.
Since incorporation, the company’s objective was to become one of the country’s largest green and herb cultivation centers for medical use. They provide farming services through the soil and hydroponic equipment with a specialty towards the cannabis field. Finally, the company distributes its products through its e-commerce channel as well as other retail fronts.
Over time, the expectation is that the company will harness its different channels to boost its revenues and increase their market share within the sector. Through various methods (as will be discussed later) their plans seem to be coming to fruition.