GrowGeneration Corp (OTCMKTS: GRWG) Getting Stronger. Is Now The Time to Buy? - MJ Global Report
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GrowGeneration Corp (OTCMKTS: GRWG) Getting Stronger. Is Now The Time to Buy?




GrowGeneration Corp (OTCMKTS: GRWG) is a Denver-based company and one of the larger chains for specialty hydroponic and organic garden centers. The company sells thousands of products which are targeted to the cannabis growers.

Most of the products include advanced lighting technology, organic nutrients, and soils as well as state of the art hydroponic equipment which are used indoors and outdoors by home and commercial growers.

GrowGeneration Price Analysis

GRWG Daily Chart

GrowGeneration has not seen a steady flow in its price over some time now with recent fluctuation whereby the price has fallen to a current $3.42. On 17th May 2019, the stock fell by 3.93% and later corrected by going up (an accountable 8.94%) again.

In general, the stock’s 30-day price stands at $3.74, and the low is $2.53 while the 90-day high happens to be $3.74 and low $2.52.

However, there has been a good sign as volume fell along with the stock, which is an excellent deal as volume has to follow stock.

What makes GrowGeneration Corp Exciting?

As we all know, the cannabis industry is rapidly growing one, and only capable stocks will meet the growing demand. To ensure that the demand is met and expectations exceeded, the Denver-based GrowGeneration Corp is taking every right step steadily.

This year alone, the company has exploded with its buying spree as it made five acquisitions already. The latest addition is GreenLife Garden Supply which has now allowed the stock to expand its number of locations massively.

The GreenLife Garden deal resulted in GrowGeneration having added two locations in New Hampshire and Maine making it a total of five retail as well as warehouse locations in New England market.

Overall, the company has 21 locations that serve both commercial and household customers across the United States. Besides, the latest acquisitions led to an addition of $7 million to the stock’s top line.

In February the company acquired assets of Palm Springs Hydroponics which is an established leader in their market. The addition of Palm Springs was the company’s 7th location in California as well as their 22nd store.

It’s clear to note that the stock has been busy opening up and entering markets with cultivation laws being conducive to growing. Besides, there are places where GrowGen can strategically locate operations in the areas with a high concentration of growers.

Not too long ago, GrowGen purchased some assets of BWGS, LLC with the transaction including the purchase of all BWGS’s inventory and branded products. The acquisition bolsters the company’s ability to supply branded ‘house’ products conveniently to customers.

The deal offered GrowGen with an array of private products to provide the customers and further to have a positive impact on the profitability as well as margins going forward. The expectations seem to be in line from the latest Q1 2019 report.

GrowGen Never Stops

As if that is not enough, GrowGen had earlier (during the year) acquired all assets of Chlorophyll, Inc. – a superstore with more than 20,000 sq. ft. of warehouse and retail space. As the first acquisition of 2019, it added $8 million to the company’s revenue.

Also, the company had opened operations in Nevada with the acquisition of Reno Hydroponics assets. Reno has an array of experience of over 10 years, and it became GrowGen’s 23rd location (2nd in Nevada).

All these acquisitions, among other developments the company has taken, are compounded as to be very positive from the Q1 report of the company. In lights of the Q1 2019 report, the company improved results across all financial areas with a small positive net income.

Generally, the stoke rose by 19% on the news and given that the stock is not that direct in the marijuana business like other firms, it’s indeed doing well and showing great potential going forward.

The Bottom Line

GrowGeneration Corp is committed to meet the demands of the emerging markets in the cannabis industry. The continuous acquisition spree shows that the company has enough in store to become a hit in the market, and with positive Q1 2019 results, it looks like it would be a new dawn for the hydroponic distributor.

For the latest updates on GRWG and the hottest MJ stocks, sign up below!

Disclosure: We have no position in GRWG and have not been compensated for this article.

Image courtesy of Pexels

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  1. Pat

    June 27, 2019 at 3:19 pm

    What is the price

  2. Louise

    September 5, 2019 at 2:15 pm

    How much

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