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GrowGeneration: 15 Things for GRWG Stock Investors to Know About the Cannabis Stock Player

GrowGeneration (NASDAQ:GRWG) is making waves on Thursday following positive news from the company after markets closed on Wednesday.

Image of marijuana leaves growing on a plant.
Source: Yarygin / Shutterstock.com

Here’s what investors need to know about GrowGeneration and the boost to GRWG stock.

  • GrowGeneration is an operator of 31 greenhouses in the U.S.
  • This has it standing as the largest hydroponics supplier in the country.
  • It’s also looking to expand its greenhouses by acquiring other companies.
  • The company hopes to expand its business to a total of 50 greenhouses.
  • Just like other companies with marijuana connections, GRWG stands to benefit from Joe Biden winning the U.S. presidential election.
  • The current results are looking good for Biden, which has been behind several boosts to cannabis-related stocks of late.
  • GRWG stock is up after reporting diluted earnings per share of 7 cents in Q3 2020.
  • That beats out Wall Street’s estimate of 6 cents for the quarter.
  • It also comes in 133.3% higher than the 3 cents from the same period of the year prior.
  • Revenue for the quarter was sitting at $55 million.
  • That comes in above analysts’ estimates of $47.4 million.
  • This also has it climbing 153% higher from the company’s revenue of $21.8 million from the same time last year.
  • The company’s current market capitalization of $1.16 billion.
  • It’s also seen 6.72 million shares moved today as of this writing.
  • That’s higher than its daily average of 6.61 million shares.

GRWG stock was up 13.5% as of noon Thursday and is up 465.1% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/11/growgeneration-things-for-cannabis-investors-to-know/.

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