GrowLife Rises in CNNMoney Bracket to Face Apple
March 17th, 2014
News, Top Story
Apple Inc. (NASDAQ: AAPL) is the most widely held stock among individuals and institutional investors, with a market capitalization of over $470 billion. Surprisingly, the iconic U.S. company is facing the relatively little-known GrowLife Inc. (OTC: PHOT) in CNNMoney’s March Stock Mania. Participants in the bracket are instructed to vote on which stock they’d rather own relative to a competing stock in the bracket.
With its modest $553 million market capitalization, GrowLife is both the smallest and only OTC-traded company in the competition. The company – which has risen more than 400% since the beginning of the year – specializes in providing ancillary products and services to the legal marijuana market in the United States. Cannabis has become one of the hottest sectors in the market after legalization efforts have taken hold.
According to a January 2014 CNN/ORC International survey, 55% of those questioned nationally indicated that marijuana should be made legal with only 44% of those questioned disagreeing. In fact, the drug has become so popular that California Democrats voted earlier this year to add marijuana legalization to their state party’s official platform in a near-unanimous vote, signaling that these views are becoming increasingly mainstream.
On March 24, 2014, CNNMoney will name the winner of the fourth annual March Stock Media tournament. The stocks were chosen based on the most popular tickers searched by CNNMoney readers and seeded based on market valuation. Updates will be tweeted and sent out by CNNMoney as the contest progresses.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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