Acquisition news for outperforming marijuana small-cap GRWG

GrowGeneration posted a positive earnings surprise, large YoY revenue and earnings growth, plenty of cash on hand, and a net profit on its last earnings report. It has a buy rating from all four analysts that cover the stock, and an average price target of S7.25 (over 60% above the current price). The stock got listed on the Nasdaq stock exchange on December 2, which means it can now be traded on all popular trading platforms. This should help increase trading volume. Also, the company today announced its acquisition of GrowWorld, which should increase its revenue by $5 million. The market is negative on the cannabis sector overall right now, but GRWG is the best-performing cannabis stock of the year, according to a list published by SeekingAlpha on December 10. GRWG looks to be finding some support around $4.33. I've taken a small long position here and will buy more if it continues to dip.

評論:

GRWG moved strongly up today and may continue to climb if it ends the day green.