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Potstock Pick for 2020, GrowGeneration, Reports Record Revenues of $80 Million

See our comprehensive analysis of GrowGeneration here

GrowGeneration Cannabis Stock Hemp News

GrowGeneration (Nasdaq: DRWG) is among the largest organic cannabis and hydroponic gardening chains in the U.S. and it is still working toward further expansions. In many ways, GrowGenetation is the perfect parallel potstock investment as they do not deal directly with the cannabis plant like bigger companies (Canopy Growth, Aurora). Instead, the company expands into different markets through new brick-and-mortar retail locations, acquisition of cannabis cultivation licenses and cannabis companies, and a final focus on positive financial growth. But is Grow Generation stock a strong cannabis stock pick over larger cannabis companies for 2020?

The review of GrowGeneration performed by our analysts has resulted in a strong buy-and-hold recommendation rating for this potstock. Both the fundamentals and technicals are solid and GrowGeneration comes highly recommended as one of the best cannabis stock investing opportunities for 2020 by our analysts. Grow Generation is one of the largest cannabis chains in the U.S. with 27 locations, it’s still expanding through several different avenues, and the company recently reported record revenue of nearly $80 million for 2019.

The company’s jump in fiscal-year revenue represented a 174.9% increase to $79.7 million from the $29 million it generated in 2018. Grow Generation set its revenue guidance for 2020 to $130-$135 and Q1 2020 guidance at $31.5-$32.5 million.

Drew Lampert, Co-Founder and CEO, said: “The company’s fiscal year ending 2019 record financial results reflect our continued focus on revenue growth and EBITDA expansion. Revenue was up 174% year over year to $80 million. Adjusted EBITDA of $6.6 million for 2019 compared to $(823,843) for 2018, $.20 per share. Our same-store sales were up 62% Q4 2019 versus Q4 2018. For the full year, same-store sales were up 36%…”

For the entire year of 2019, the company acquired 10 new stores and reported that they have integrated into the operational routine of the company and performed better than expected. The largest hydroponic garden in the U.S., a 40,000 sq. ft. hydroponic garden was opened by Grow Generation on March 7th, 2020.

Best Hemp and Cannabis Stock Investment

Cannabis investments made at this time are considered crucial for investors who want to capitalize on the downtrend in market values due to selloffs from the COVID-19 virus. Grow Generation has the potential to provide investors with a sizeable return on investment and our analysts recommend it as a top cannabis stock pick for 2020.

For these reasons, we recommend Grow Generation as a great investment if it is made at or close to its current price of $4.35 per share. The company is focused on expansion through license acquisitions, cannabis company acquisitions, and entrance into new markets through new retail chains.

See our comprehensive analysis of GrowGeneration here

Potstock Pick for 2020, Grow Generation, Reports Record Revenues of $80 Million


About Cannin: Cannabis and Hemp Investment Experts

Market analysts expect the cannabis and hemp industry will have an annual value exceeding $75 Billion in the next decade. The time to invest in cannabis and hemp stocks is now! Are you looking to buy stock in hemp companies or cannabis companies? Interested in emerging penny pot stock companies? Looking for the best Canadian pot company to invest in? Cannin is your trusted resource for information about Cannabis and Hemp stock investment opportunities. Our global team of experts evaluates emerging cannabis stock investing companies. We aggregate hundreds of hours of research and distill it down to make it easy for our investors to understand. We provide tips on the best cannabis and hemp stock investments for 2020. We provide the latest hemp investment news and analysis. Visit our site for cannabis investing news and featured companies, sign up for the free Cannin Chronicle or get a free trial of our smart cannabis and hemp stock algorithm to take the guesswork out of profiting from this exciting industry. Predict the price of cannabis and hemp stocks hours in advance with our machine learning algorithm. Is it too late to invest in marijuana? No! This is the perfect time.

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Potstock Pick for 2020, Grow Generation, Reports Record Revenues of $80 Million