Cannabis Stock Leader Growlife Inc Oto Phot Surges 714% In Early Trading on March 30

Growlife Inc (OTO:PHOT) came out strong at the opening of trading on March 30, outpacing most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an early advance of 7.14%. After closing the previous session at $0.0098, shares of PHOT opened this morning at $0.01 and are currently trading at $0.0105. So far, about 129,537 shares have changed hands, compared to an average 30-day volume of 15.42 million for Growlife Inc. Shares moved as high at $0.015 and as low as $0.0091 in today’s early action.

The share appreciation gives the company a market capitalization of $15.23 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 $0.03. Technical traders will take note that at $0.0105, shares of PHOT are trading below their 50-day moving average (MA) at $0.013 and below their 200-day MA at below $0.012. 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 working 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 9:30AM ET.

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Source: Pot Network