In the midst of a deepening environmental crisis, where our dependence on oil becomes more and more of a lethal crutch, a ray of hope shines through. Researchers have found that hemp--a sustainable, inexpensive, and renewable resource--can be used to produce biodiesel.
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2014 - 04
This morning investors were greeted with another SEC halt in the publicly traded Cannabis space. This is the second major halt after Advanced Cannabis Solutions (CANN) was halted a couple weeks ago. There have been other halts across the OTC markets, including some companies that claim to be involved in the Cannabis space.
In general, the space has experienced massive price appreciation and it hasn’t gone unnoticed. The SEC has seen enough and they are rightfully stepping in.
GrowLife, ticker PHOT, will be halted through April 24th. The commission suspended trading because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in PHOT’s common stock.
GrowLife is one of the largest and widest held stocks in the space. The SEC is certainly getting their point across to the marketplace. A favorite quote of ours is that the SEC is like a glacier– it moves slowly but it will crush everything in its path. The market is getting crushed as investors are fleeing names they feel could be next on the halt list.
The sell-off is painful yet necessary. We have been expecting the SEC to step in for quite some time, however, we have no idea what companies they are targeting. The market has been ripe with fraud and manipulation, which is putting the end investor at a growing risk. We hope the SEC’s efforts will help to do some much needed purging of the fraudulent companies. In addition, we hope this will raise the bar for companies in the publicly traded Cannabis space.