Growgeneration Corp Stock Price, News & Analysis

GrowGeneration Corp. (NASDAQ: GRWG), the largest specialty hydroponic and organic garden center chain, will participate in the Lake Street 4th Annual Best Ideas Growth Conference on September 17, 2020. Management will be available for virtual meetings with institutional investors on that day. GrowGeneration operates 28 stores across various states, including Colorado, California, and Michigan, and runs an online superstore. The company aims to dominate the hydroponic sector, which could reach approximately $16 billion globally by 2025.

GrowGeneration Corp. (NASDAQ: GRWG) announced its participation in the Lake Street 4th Annual Best Ideas Growth Conference on September 17, 2020. Management will engage in virtual one-on-one meetings with institutional investors. GrowGeneration operates 28 stores across various states, including Colorado, California, and Michigan, and serves as a leading supplier of hydroponic and organic gardening products. With a mission to expand its brand, the company caters to both commercial and home growers, supporting the growing hydroponics market projected to reach $16 billion by 2025.

GrowGeneration Corp. (NASDAQ: GRWG) announced on August 21, 2020, that it has identified attempts to fraudulently manipulate its stock. An organization, Hindenburg Research, published false statements regarding the company's officers and directors, aiming to mislead investors and benefit short sellers. GrowGeneration will work with law enforcement and regulators to investigate these claims and intends to take legal action to protect shareholder value. GrowGeneration operates 28 hydroponic and organic gardening stores and aims to expand further in the U.S. and Canada.

GrowGeneration Corp. (NASDAQ: GRWG) announced on August 21, 2020, its discovery of fraudulent stock manipulation attempts by an entity called Hindenburg Research. The organization purportedly published false statements targeting the Company's officers and directors to mislead investors and benefit short sellers. GrowGeneration plans to work with law enforcement and regulators to investigate and prosecute these actions. GrowGeneration operates 28 specialty hydroponic and organic garden centers and aims to defend shareholder value amid these allegations.

GrowGeneration Corp. (NASDAQ: GRWG) reported a record revenue of $43.5 million for Q2 2020, marking a 123% increase year-over-year. Adjusted EBITDA was $4.6 million, up 166%, and net income reached $2.6 million compared to $1.1 million in Q2 2019. The company increased its 2020 revenue guidance to $170-$175 million and set a 2021 revenue forecast of $245-$260 million. Noteworthy achievements include the opening of a new store support center and acquisition of H2O Hydroponics, driving further growth in their hydroponic operations.

GrowGeneration Corp. Expands Presence in Northern California

On August 11, 2020, GrowGeneration (NASDAQ: GRWG) announced the acquisition of Emerald City Garden in Concord, CA, marking its 28th retail location. This acquisition, valued at approximately $4 million in estimated annual sales, enhances GrowGen's footprint in the East Bay region. CEO Darren Lampert emphasized this move strengthens their market position and potential revenue growth, especially given California's thriving cannabis market, projected to reach $5 billion by 2022.

GrowGeneration Corp. (NASDAQ: GRWG), the largest specialty retail chain for hydroponic and organic gardening, announced a conference call to discuss their Q2 2020 earnings on August 13, 2020, at 9:00 AM ET. With 27 locations across the U.S., GrowGen aims to capture a significant share of the estimated $16 billion global hydroponics market by 2025. The call will feature CEO Darren Lampert and other key executives who will answer questions from participants.

GrowGeneration Corp (NASDAQ: GRWG) announced a public offering of 7,500,000 shares of common stock at $5.60 per share, raising approximately $42.0 million in gross proceeds. This offering size was increased from a previous $35.0 million. The funds will primarily be used to expand its hydroponic garden center network through acquisitions and organic growth. The company expects to close the offering by July 2, 2020. Oppenheimer & Co. Inc. is the book-running manager for the offering, with additional support from co-managers.