Growlife Still Halted; Marijuana Penny Stocks Still Doomed

Most of these over-the-counter weed penny stocks are just vehicles for their insiders to sell shares to retail investors caught up in the hype of the legalized marijuana revolution. Let me explain again. I’ve repeatedly highlighted Growlife /quotes/zigman/11335612/delayed /quotes/nls/phot PHOT as a poster-child for this game in which the retail investor is always the mark , and late last week, holders of PHOT woke up to news that the SEC had finally gotten off their butt and was suspending trading in this stock while they investigate the companys stock trades because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in PHOTs common stock.

I have certainly been one of those who have raised questions about the accuracy and adequacy and potentially manipulative transactions in PHOT s common stock. Im glad to see the investigation, even coming way too late for all those retail investors who got stuck with this now suspended stock. In just the last two months, here are a few of the articles in which I asked those questions about the weed penny stocks and Growlife PHOT specifically: The truth about solar, gold and marijuana Talk about popping peoples bubble. I stirred up a lot of anger and vitriol from my readers of The Cody Word with those articles. Heres a sample: Bring some solid information or write about something you actually know about. As you said you are not willing to do the research. You are basically the same as all of the pump and dumpers on Y-Hoo finance. Shame on you.

In one of those articles, I wrote in response to all that vitriol I received that, I sure hope that for every one of you bashing me, that somebody out there is choosing not to buy into these things and therefore not setting themselves up for huge losses by betting on penny/reverse-merger/roll-up/hype-machine-Wall Street-insider-selling marijuana stocks. I still hope that was the case.

To read more, visit http://blogs.marketwatch.com/cody/2014/04/14/growlife-halted-marijuana-penny-stocks-doomed/

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