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Greengro Technologies Inc (OTCMKTS:GRNH) Closes Deep In Red

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In the last trading session, the stock price of Greengro Technologies Inc (OTCMKTS:GRNH) declined more than 10% to close the day at $0.0490. The decline came at a share volume of 7.13 million compared to average share volume of 1.86 million.

Revenues continue to surge for the Legal Cannabis and Marijuana industry along with the Cannabinoid-based Product Market starting to become the major division in the industry. The countrywide growth in the legal cannabis industry is still expanding at a fast rate, with no indications of slowing down.

Industry sales are growing, consumer demand continues to be strong and by 2020, legitimate industry sales are anticipated to excel $22 billion and probably reach twice that amount. Cannabis equities to keep watch on in the market comprise Greengro Technologies, PotNetwork Holdings Inc (OTCMKTS:UTRM), Terra Tech Corp (OTCMKTS:TRTC) and others.

The buzz

Greengro Technologies recently reported that its majority-owned subsidiary firm Biodynamics, LLC, Akron, has been awarded a deal to sell a branded photovoltaic solar glass hydroponic vegetable greenhouse under a $17 million purchase contract with GH Farms Group.

Under terms of the deal, Biodynamics will construct a greenhouse for GH Farms, with construction anticipated to commence in the third quarter of 2018. The assignment, incorporating Biodynamics’ industry-major completely automated off-grid greenhouse know-how, will grow vegetables hydroponically applying Biodynamics’ proprietary CEA growing techniques and systems.

With total revenues of more than over $2.1 million, April and May figures surpass first quarter performance as PotNetwork continues grow processes for growing returns, as latest returns surge well over first quarter’s sales of around $1.858 million, management sharpens focus on meeting rising demand.

PotNetwork reported that its wholly-owned subsidiary firm Diamond Hemp, Inc. continues gaining momentum into the summer with increased expectation for Diamond Hemp’s much sought after consumable goods line. After the previous two months of the second quarter, total revenue has reached around $2.106 million, considerably surpassing the firm’s first quarter results.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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