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
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
Forget APHA and ACB, Buy GTBIF and TCNNF
There are a lot of misconceptions going on when it comes to US legalization. Many investors are buying Aphria (APHA) and Aurora Cannabis (ACB) hoping to bank on what’s happening in the US. However, they are Canadian Licensed Producers and have no business in the US. Investors are buying them because they trade on the major exchanges, but that is the wrong move. The correct move is to buy the US multi-state operators like Green Thumb Industries (GTBIF) and Trulieve Cannabis (TCNNF).
On Election Day voters in New Jersey, Arizona, Montana and South Dakota voted to legalize recreational marijuana. South Dakota and Mississippi voters also approved measures to legalize medical marijuana.
There’s also the prospect of a more pot-friendly White House with President-elect Joe Biden. Vice Presidential Candidate Kamala Harris said at the debate a Biden administration would decriminalize marijuana at a federal level and expunge criminal records of people with marijuana-related offenses.
Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which it serves.
Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection.
The company also owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 96…
Decision Diagnostics Corp (OTCMKTS:DECN) Explodes On COVID-19 Test Kit Opportunity
Decision Diagnostics Corp (OTCMKTS:DECN) is exploding higher after unveiling a new methodology for the screening of coronavirus. GenViroTM COVID-19 screening kit is the latest catalysts fuelling the stock’s price action activity in the market. Similarly, the stock has rallied by more than 300% as investors take note of the huge opportunity up for grabs as the coronavirus pandemic continues to cause havoc.
OTCMKTS:DECN Price Analysis
The ever-growing demand for coronavirus test kit presents a unique opportunity for the company to generate significant value. In return, investors have continued to push the stock higher even as the broader equity market continues to plunge into the bear territory.
OTCMKTS:DECN is currently trading in a steep uptrend after succumbing to bearish pressure in 2019. Given the strength of the upward momentum, the stock is closing in on its one-year highs as the break out shows no signs of slowing down. A rally followed by a close above the $0.08 mark should open the door for bulls to push the stock to two-year highs.
Similarly, the $0.05 mark is the immediate support level above which the stock remains a bull play. Conversely, a breach of the support level would leave Decision Diagnostics susceptible to further drops, probably back to the $0.03 level. However, given the developments on the global scene, the stock looks set to continue powering high on pullbacks.
Decision Diagnostics bills itself…
Is CytoDyn Inc. (OTCMKTS:CYDY) A Buy?
CytoDyn Inc (OTCMKTS:CYDY) has been making big moves lately, which have propelled the stock from December low of $0.270 to new highs. Notably, CytoDyn’s surge has come on significant volume as well, a clear sign of strong investor interest in the stock.
The excitement in CytoDyn stock that we are witnessing right now comes as the company has taken a leading role in the fight against the deadly Wuhan coronavirus. Moreover, investors have started pouring on CytoDyn stock as the company advances the development of its lead drug candidate as a treatment for about two dozen different cancer types.
Before we delve into the details, here is a brief profile of CytoDyn for those investors who may have just come across this company for the very first time.
CytoDyn operates in the healthcare sector as a biotechnology company. It is engaged in developing innovative treatments for a broad range of medical indications. Its lead product candidate is leronlimab (PRO 140). Clinical trials of leronlimab are ongoing for conditions such as HIV and multiple cancers with impressive results already attained. But CytoDyn is expanding its target conditions with leronlimab in the wake of the outbreak of the Wuhan coronavirus.
Here are some of the recent developments at CytoDyn that have excited renewed investor interest in its stock.
CytoDyn’s leronlimab under consideration as Wuhan potential coronavirus treatment
CytoDyn’s lead drug candidate leronlimab (PRO 140)…