Surna Inc (OTCMKTS:SRNA) has been moving up the charts in recent days on a massive surge of volume as pot stocks heat up and once again become the biggest thing in small caps. SRNA has a long history of big moves skyrocketing in early 2014 from $0.175 to $8.73.
There are plenty of reasons to get excited about pot stocks here; Four western US states — Alaska, Colorado, Oregon, Washington as well as the nation’s capital Washington D.C. have legalized marijuana for recreational use. An additional 19 states have legalized marijuana for medical use. 2015 was an epic year for the industry; Colorado earned $135 million in taxes and licensing fees on nearly $1 billion in pot sales and the state of Washington took in $70 million on statewide pot revenue totaling $257 million.
Surna Inc (OTCMKTS:SRNA) mission is to acquire intellectual property and scalable operating companies in the nascent, legal marijuana industry with a focus on disruptive technology, equipment and related support services. The young Company is led by Stephen Keen, a highly successful lifelong serial entrepreneur and co-founder of Hydro Innovations.
SRNA bills itself as a pure play on explosive growth in the cannabis industry, while being agnostic as to the escalating proliferation of regulated, commodity cannabis growers & sellers, winners or losers; its business model excludes the production or sale of marijuana. ArcView industry research projects the highly fragmented $2.3 billion US cannabis industry will increase over four-fold to $10.2 billion by 2018.
Surna has been very successful in getting its name into the mainstream media; in October of last year they said multiple, major media organizations outlets — including Entrepreneur Magazine and Huffington Post — have featured Surna and its role as a technology leader in the legal cannabis industry.
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In December SRNA announced it was the recipient of the The Cannabist’s inaugural award for Innovation in the cannabis industry.
The Innovation Award recognizes the cannabis business that has shown the most innovation throughout the industry. Eleven finalists were named to qualify for the award. A judging panel consisting of the cannabis industry’s top influencers, including members from the ArcView Group, Canopy, and WomenGrow, selected Surna as the winner. The Cannabist, The Denver Post’s cannabis-focused reporting arm, held the award ceremony on Dec. 15, in The Denver Post building. The ceremony was also streamed live on The Cannabist’s website.
On October 3 SRNA congratulated Director of Technology Stephen Keen on his latest endeavor – leasing a facility in Boulder with the goal of becoming an independent marijuana cultivator, which plans to demonstrate Surna solutions.
Keen stated, “I am very excited about the opportunity to build an independent cultivation facility that illustrates proper installation and use of the Surna products that I helped develop. By managing a showroom, unaffiliated with Surna, over which I have complete control, I expect to show how Surna’s climate control systems can generate significant energy savings and improve production yield. In my heart, I am a grower and an environmentalist. I want the opportunity to prove the two can flourish together.”
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Currently trading at a $17 million market valuation SRNA is the latest pot stock to explode up the charts on significant volume. While the Company has just $300k in the treasury revenue growth has been spectacular growing 328% to $7.9 million, compared to $1.8 million last year. SRNA is an exciting story in small caps; the Company bills itself as a pure play on explosive growth in the cannabis industry, has a history of explosive moves in the past and are masters at selling the sizzle on the sector successfully getting its name into the mainstream media in the recent past. We will be updating SRNA as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with SRNA.
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Disclosure: we hold no position in SRNA either long or short and we have not been compensated for this article.