The next 2 weeks will be very interesting. PHOT was in eeffect becoming one of the darlings of the MJ
sector. For better or worse, retail gamblers ,ahem, investors were flocking to have shares and the fortunes of several others in the index were tethered to the PPS direction of PHOT.
In the weeks leading up to the halt, several bloggers were helping to create push and pull, and the sector was starting to fizzle out from it's huge run up.
The halt of CANN and PHOT added to the drop.
The many gamblers still in are hoping for a happy conclusion to the investigation.
And the shorts and sellers are hoping for a continuation of the spiral downward, creating a vacuum, which, by it's very nature will create a potential buying opportunity for them.
There are many possibilities, and 2 stock market scenarios.
A selloff, creating a potential buying opportunity OR
If there are minor infractions, and a slap on the wrist accompanied by a small, say 6 figure fine, the drop may end up being a move up instead.
We don't know what they did wrong.
We don't know what the SEC will find out from their investigation.
We hope, whatever the result, the air is cleared for more transparency, clearing the way for gamblers and investors to have more accurate information on shares structure and trading.
OTC trading should offer the average retail investor the same opportunities as one investing in NASDQ stocks.