The Street: For Cannabis Companies, the Path to Traditional Markets Isn’t Always Straight

The Street: For Cannabis Companies, the Path to Traditional Markets Isn’t Always Straight
April 20, 2018 Kyle Porter
In News Articles

CMW client GrowLife, Inc. was included in a “The Street” article about listing on public markets as a cannabis company:

“They’re vocal, they’re very passionate and, in our case, they’re very loyal,” said GrowLife Inc. (PHOT) Chief Executive Officer Marco Hegyi to TheStreet.

GrowLife, an indoor cannabis cultivation products, and services provider is OTC-listed. The company last month uplisted from the OTC Pink Market to the OTCQB market, a move the company called a “significant” testament to its commitment to high-level financial transparency, shareholder accountability and trading platform stability.

GrowLife has been public since 2012 when it partook in a reverse merger and began trading on the OTC market under the ticker “PHOT.” While it’s still a penny stock, GrowLife is among the marijuana stocks that trade at significantly high valuations. Many investors consider these stocks high-risk, high-reward, as they often price in what could be years of future growth in today’s trades.

“It was good to be out early, but at the same time, it attracted regulatory attention,” Hegyi said. When companies in the nascent legal cannabis market began trading at multiples far higher than everyday market players did, regulators began implementing more oversight.

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