Best Marijuana Stocks: Growlife (PHOT)
11/20 Stock Price: 7 cents
Market Cap: $41 million
YTD Performance: 79%
Another more-established of the marijuana stocks is Growlife (PHOT), as PHOT stock trades over 13 million shares per day. Like Medical Marijuana Inc., Growlife is a holding company for a line of legal marijuana businesses, in this case catering to growers.
In fact, the most recent claim to fame for PHOT is the introduction of the first kiosk-based payment and compliance system for legal marijuana dispensaries.
As an allied play on legal marijuana, shares in this medical marijuana stock have really taken root in 2013. Growlife stock is up almost 80% for the year-to-date, but like all medical marijuana stocks, it’s very volatile. Shares of PHOT stock have traded in a range of 1 cent to 10 cents a share.
For the most recent quarter, Growlife had a loss of $1.6 million on revenue of $865,000, and it claimed $83,000 in cash and cash equivalents on its books.