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Monday, August 8, 2022

Greengro Technologies Inc (OTCMKTS:GRNH) Has Promise Heading Into 2017

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Greengro Technologies Inc (OTCMKTS:GRNH) is a micro-cap marijuana play that took a major turn south in late October and November in the face of strength in the space. However, the stock has started to attempt a repair job on the chart in recent days, ripping as much as 30% higher since last week’s lows.

The chart shows 27% added to share values of the stock over the past week of action. This is emblematic of the stock. GRNH has evidenced sudden upward volatility on many prior occasions. What’s more, the stock has benefitted from a jump in recent trading volume to the tune of topping 20% beyond its prior sustained average level. Since we last covered the name, the stock has moved 21.3% higher and broken above its 50-day simple moving average and its early December highs without much in the way of new press to account for the jump.

Greengro Technologies Inc (OTCMKTS:GRNH) promulgates itself as a company that designs, manufactures, and markets green eco-friendly vertical cultivation systems in the United States. It offers flux lighting products, table stands, nutrient mixers, home units, cloning systems, and tea brewers, as well as provides consulting and management services to its clients.

The company also markets lights, fans, hoods, automatic watering systems, and nutrients under the GreenGro brand.

GreenGro Technologies, Inc. offers its products to consumers and industrial cultivators through its Website. It has a strategic alliance with Solaris Power Cells. The company, formerly known as Authoriszor, Inc., was founded in the 1996 and is based in Westminster, California.According to company materials, “Greengro Technologies is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies Inc also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.”

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As noted above, GRNH has been on a tear in recent days without a peep out of the company. The market is providing some good signals.

This stock is one of a handful of plays that are interesting right now from an experimental point of view. To those who are of a scientific mind with such things, take this example as a thesis at the testing point: This company is in the business of setting folks up with the means to make it as a startup cultivator of marijuana, plain and simple. It’s a kit. It might as well be called, “The ‘Start-growing-pot-as-a-business’ Kit”.

And, after the November 8 vote, there has never been a time in the history of planet Earth when there were more people and money simultaneously incentivized to get into that business. If you are a holder of equity in GRNH, you know it better start rallying now. If it doesn’t…

Well, just imagine if you owned stock in a business that made tire-type rubber when the Model-T was introduced, or paper when the typewriter was first put on the market. You know it is either going to start paying off or not. Pencils down. That’s the moment.

There are going to be a whole lot more pot growers making a go of it in coming months. We need to see this stock playing ball now or never. Tuesday was a good day in that respect.

Now commanding a market cap of $29.1M, GRNH has about $58k in current cash on the books as of its September quarter, which must be weighed relative to nearly $400k in total current liabilities.

GRNH is pulling in trailing 12-month revenues of $887K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 234.2%. That’s not a bad all-around story, but this is still a developing read with some technicals that are only just starting to offer hope to current shareholders after a vicious resetting of the chart in November. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $GRNH stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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