CANNAGROW HOLDINGS (OTCMKTS:CGRW) continues to hold its new support levels along $0.19 with ease on light volume. The stock recently exploded off its $0.05 base to a high of $0.26. CGRW is strong here and consolidating well; a break over $0.26 would mark confirmation of the next leg up and big win for shareholders.
CGRW aims to establish Itself as a leader In Colorado’s Expanding Cannabis Industry. Seraphim Strategies said about The fledgling pot Company on November 6 ”it is further establishing itself in Colorado and strengthens its association with licensed cannabis growers in the region, cannabis measures voted into law on election day in several states should place CGRW in an ideal position to see substantial gains in a cannabis market that could prove to be far larger than anyone could have predicted over the next two to three years.”
CANNAGROW HOLDINGS (OTCMKTS:CGRW) has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders
The Company is currently working with a website designer to update its website to reflect the new business model that will be forthcoming in the very near future.
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On November 5 CGRW filed an amendment to its articles of incorporation with the State of Delaware. Delmar Janovec, CannaGrow CEO, comments, “The Company filed an amendment to its articles of incorporation with the State of Delaware after receiving majority consent from its shareholders of the Company. The amendment will decrease its authorized common stock from Two Billion, (2,000,000,000), shares to Five Hundred Million, (500,000,000), shares with an effective date of December 4, 2014.
The Company is currently undergoing many exciting changes and shareholder value is of the utmost importance. Reducing the Authorized Common Stock for the second time in this calendar year 2014, will send a very positive message to the investment community as we enter into the Medical-Recreational Marijuana industry in Colorado.
Mr. Janovec goes on to say, CannaGrow Holdings has assembled a very competent team of experts and professionals to assist in our entry into the Medical-Recreational Marijuana Industry. Shareholders can expect on-going progress reports as we finalize building plans and submit applications.”
Conclusion: CGRW is making a highly explosive move up on massive volume as the fledgling pot stock hits the bb’s fresh of the name change from BizAuctions, Inc. The entire sector is hot with Cannabis legal in Washington, Oregon, Washington DC, Colorado and Alaska a massive new multi-billion dollar industry is being born and small start-up Companies are attaining massive valuations.
This is not the first time around the block for CGRW, an old shell that was 1st incorporated in Delaware in 1995 as Topper’s Brick Oven Pizza, Inc. before changing its name to Famous Food Group, Inc. in 2006 and Kootenai Corp. a month later. The Company seems to be in the right place at the right time this time around and investors are betting that newly legalized Marijuana will bring massive attention to the sector and blow pot stocks sky high, hopefully CGRW too.
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Currently trading at a $29 million market valuation CGRW is red hot and quickly building a loyal shareholder base that swears this one goes way higher. While the Company doesn’t really have much in terms of fundamentals perfect timing and a sexy story can take you a real long way when its Pot Stocks we are talking about.
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Disclosure: we hold no position in CGRW either long or short and we have not been compensated for this article.