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Home / Market Movers / Cannabis Stock Leader: Growlife Inc (OTO:PHOT) Gains 18.13% at Midday on December 30

Cannabis Stock Leader: Growlife Inc (OTO:PHOT) Gains 18.13% at Midday on December 30

Growlife Inc (OTO:PHOT) has a strong morning trading session on December 30, outpacing most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an advance of 18.13%. After closing the previous session at $0.016, shares of $PHOT opened this morning at $0.017 and are trading at $0.0189 at the lunch break. So far, about 33.96 million shares have changed hands, compared to an average of 30-day volume of 18.33 million for Growlife Inc. Shares moved as high at ${round high 4} and as low as $0.0167 in AM trading action.

The share appreciation gives the company a market capitalization of $24.87 million based upon 1.55 billion shares outstanding.

In the past 52 weeks, shares of Growlife Inc have traded as low as $0.001 and as high as $0.085. Technical traders will take note that at $0.0189, shares of PHOT are trading above their 50-day moving average (MA) at $0.012 and above their 200-day MA at $0.014. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them is typically regarded as bullish.

Who is PHOT?

GrowLife Inc is a cultivation brand. The Company provides hydroponic equipment, LED grow light products, organic plant nutrient, media including farming soil and other grow supplies to licensed commercial and urban operations. The company is led by its CEO Marco Hegyi from its headquarters in Seattle, WA.

For more information on PHOT and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit today.

All data provided by QuoteMedia and was accurate as of 12:00PM ET.

About is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

About Jeremy Wilchek

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