Growgeneration Corp Stock Price, News & Analysis

GrowGeneration Corp (NASDAQ: GRWG) announced a partnership with Harvest 360 Technologies to create a National Program focused on educating and training individuals for the cannabis industry. The initiative aims to assist those seeking state licenses, particularly emphasizing support for veterans, minorities, and residents of Disproportionately Impacted Areas. GrowGen is committing up to $500,000 in scholarships for cultivation teams in New Jersey, providing access to educational resources and equipment packages. This program represents a significant step towards enhancing social equity in the emerging cannabis market.

GrowGeneration Corp (NASDAQ: GRWG) appointed Becky Gebhardt as Senior Vice President, Marketing and E-commerce, effective immediately. Gebhardt brings over 20 years of experience in consumer goods, previously serving as Global CMO of PopSockets and CMO at Lands' End. Her expertise will enhance GrowGen's omni-channel marketing and e-commerce strategy, driving customer acquisition and engagement. GrowGen currently operates 63 stores across multiple states and offers a wide range of hydroponic and organic gardening products through its online platforms.

GrowGeneration Corp (NASDAQ: GRWG) has officially entered New Mexico's cannabis market by acquiring All Seasons Gardening, the state's largest hydroponics retailer, marking its 63rd store across 13 states. The planned acquisition of HGS Hydro was mutually terminated after due diligence, expected to contribute $20 million in revenue for 2021. Full-year revenue guidance has been revised to $440 million to $452 million, with Q3 2021 revenue anticipated between $114 million and $116 million, reflecting a 150% increase year-to-date. Adjusted EBITDA is projected between $47 million and $51 million.

GrowGeneration Corp. (NASDAQ: GRWG) has announced a distribution agreement with Groundwork BioAg to offer DYNOMYCO, a mycorrhizal inoculant formulated for cannabis growers. This expands GrowGen's product portfolio, which is a strategic priority aimed at long-term revenue growth. DYNOMYCO boasts yield increases of 10%-45%, enhances nutrient uptake, and reduces phosphorus fertilizer dependency. Starting October 2021, the product will be available through GrowGen's 62 retail locations and online store.

GrowGeneration Corp (NASDAQ: GRWG) has appointed Eula Adams to its Board of Directors, effective immediately. Adams, former CEO of Neuromonics, Inc., brings extensive experience, having held leadership positions at Sun MicroSystems, First Data, and Deloitte. His background in technology, operations, and finance is expected to enhance GrowGeneration's growth strategy. The company currently operates 62 hydroponic and organic garden centers across the U.S., along with an online superstore. This strategic addition to the board aims to bolster the company's market position.

GrowGeneration Corp (NASDAQ: GRWG) announced the opening of two new hydroponic garden centers in Los Angeles County, California, scheduled for September 24-25, 2021. The new centers will add 122,000 square feet of retail and distribution space, enhancing the company’s reach in the largest hydroponic market in the U.S. The downtown LA location spans 52,000 square feet, while the Long Beach location covers 70,000 square feet. These expansions position GrowGen to better serve commercial indoor cannabis growers in California and strengthen its private label business.

GrowGeneration Corp (NASDAQ: GRWG) announced its participation in several upcoming investment conferences. Key events include:

• Lake Street Capital Markets 5th Annual Best Ideas Growth Conference on September 14, 2021, featuring virtual one-on-one meetings with institutional investors.
• 4th Annual Wells Fargo Consumer Conference on September 22-23, 2021, held at the Ritz-Carlton in Dana Point, California.
• AGP Consumer Cannabis Virtual Conference on October 5, 2021, also featuring virtual meetings.

GrowGen operates 60 retail locations across the U.S. and offers a wide range of hydroponic and organic gardening products.

GrowGeneration Corp (NASDAQ: GRWG), the largest chain of specialty hydroponic and organic garden centers, announced the acquisition of Hoagtech Hydroponics in Bellingham, Washington. This acquisition increases GrowGen's store count to 59 and is expected to generate nearly $15 million in annual revenue from the Washington market. The deal marks GrowGen's 13th acquisition in 2021, as the company raised its 2021 revenue guidance to between $455 million and $475 million, with a goal of operating over 70 garden centers by year-end.

GrowGeneration Corp (NASDAQ: GRWG) will participate in the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021. The event will feature a fireside chat with Darren Lampert, CEO, and Jeff Lasher, CFO, starting at 2:30 PM ET. Management will also hold virtual one-on-one meetings with institutional investors on the same day. GrowGeneration operates 58 specialty hydroponic and organic garden centers across 12 states, making it the largest in its sector. For inquiries, attendees are urged to contact their Canaccord representative.