GreenGro Technologies Inc (OTCMKTS:GRNH) Explodes Off The Lows

GreenGro Technologies Inc (OTCMKTS:GRNH) has exploded off the lows after GW Pharmaceuticals Inc (NASDAQ:GWPH) saw its stock price surge 120% to $84, up from a two-year low, after announcing a successful phase three clinical trial that proved its drug Epidiolex significantly reduced seizures in children with Dravet Syndrome. This news reverberated throughout pot stock nation as investors got excited about the marijuana industry and that the GWPH news could be the sign of a new green rush for pot stocks.GreenGro Technologies describes itself as "a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors."The company's websites www.greengrotech.com, www.bpgardens.com ,www.verticalhydrogarden.com, and www.420scan.com offer regular updates including educational videos, projects updates, recipes and nutritional information, and where to find the company's products.The company just reported 242.94% year-over-year sales growth through the first quarter of 2016 ($522,000 for the 1st quarter of 2016 compared to $152,215 for 2015). The major increase in sales was attributed to new customers along with renewals and the ongoing expansion of the company's product lines. In addition, the company's sales are indirectly benefiting from the growth of the recently legalized Cannabis industry.Earlier this month, GreenGro launched 420Scan.com, one of the fastest ways to find a medical marijuana dispensary in one's area. 420Scan's mission is to be the industry's most comprehensive service on information concerning medical marijuana dispensaries coast to coast. Unlike other competitors, there is no app required or sign-up needed, interested users only need to text "420" to (805)-420-SCAN (7226) for fresh results which are instantly updated. Users of 420Scan can receive notifications when their favorite dispensaries update their menu or add new deals. They can also request an SMS text message as an alert if a new dispensary or delivery service opens in their area, making 420Scan a must-have for anyone in the medical marijuana community. 420Scan's initial launch targeted California, the largest producer of Medical Marijuana with other states soon to follow.Helping to drive GreenGro's business in California was the passage of bill AB266, which was signed into law on September 11, 2015 and went into effect on January 1, 2016. The company said:

“Greengro is very excited about this legislation. Finally our clients have the guidance necessary to legitimately grow their business. For us as a company we are quickly ramping up manufacturing capacity for our advanced greenhouse and modular grow room designs and aggressively seeking additional resellers that are capable of training install crews to accommodate the large spike in sales. We have been preparing for this opportunity for years. We have continued to refine our designs, and push our suppliers to give us the most reliable and cost effective components available. We are confident that our new modular grow rooms, automated light deprivation greenhouse systems, and DIY solar systems are among the highest quality at the most competitive prices in the industry. Our sales are growing exponentially because of turnkey systems sales and installation contracts. California is by far the largest producer of Medical Cannabis and we expect this new law will dramatically increase our business because cultivators have more confidence in the legality of their operations, and consequently purchase higher quality higher production turnkey systems from us. Our orders for greenhouses are already growing exponentially and we expect to sell several hundred in 2016.”

Currently trading at just a $3.8 million market cap, GRNH has seen an explosive move higher on tremendous volume. We believe that the low is in on the stock and that better days are ahead for shareholders. We will be updating Insider Financial as soon as we know more. For continuing coverage on GRNH and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in GRNH and have not been compensated for this article.