GrowGeneration Announces Q3 Revenue Up 83%
Denver-based GrowGeneration Corp. (OTCQX: GRWG), a specialty retail hydroponic and organic gardening company with 14 locations selling to both commercial and home cannabis markets, reported strong financial results for its Q3 ended September 30, 2017.
Revenue was up 86% to $4.0 million, compared to $2.2 million for Q3 the year before. Revenue rose 91% to $10.7 million for the 9 months ending September 30 compared to from $5.6 million for the 9 months last year.
According to Darren Lampert, Co-founder, and CEO, “Our company continues to attract capital, raising $4.8 million through Q3 2017, strengthening our balance sheet to $8.2 million in assets and breaking the $10 million revenue mark.”
GrowGen now operates in 4 states, with 14 stores totaling over 50,000 sq. ft., servicing 100’s of commercial growers. They forecast revenue for 2017 to be about $15 million.
The company is expanding in California, Nevada, Michigan, Rhode Island, Maine, Massachusetts, Oregon, and Washington.
GrowGen stock closed down 3% to $1.86. Its market cap $27 million, and the 52-week range is $1.500 – $3.430.
Source: GrowGeneration Corp
GrowGeneration Announces Q3 Revenue Up 83%
About Cannin: Your Cannabis Stocks Resource
Cannin is your #1 trusted resource for cannabis stocks. Our global team of experts evaluates all emerging cannabis stock investing opportunities. We aggregate hundreds of hours of financial research and provide tips on the best cannabis stocks for 2020.
Use Cannin as your resource for:
- Cannabis and hemp investing news
- Featured cannabis and hemp company analysis
- Comprehensive cannabis and hemp stock reports
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.
Are you looking to buy stock in hemp companies or marijuana companies for 2020? Interested in new penny hemp stock companies? Looking for the best Canadian cannabis stocks to invest in? Looking to leverage the power of algorithmic stock trading to beat the cannabis market? We can help.
Are you interested in cannabis stocks like Curaleaf, Trulieve, Aurora Cannabis, Charlotte’s Web, Canopy Growth, or Hemp Inc.?
Predict price movements of cannabis stocks several hours in advance with our proprietary algorithmic stock trading software.
- +25% Gains in 2020
- +49.8% Gains in 2019
- Backtested since 2012
We’re so confident you’ll love our algotrading cannabis stock signals, we’re willing to give you a one-month risk-free trial to see it for yourself.
Profit from the best cannabis stocks – we’ll show you how at cannin.com.
Marijuana Stocks, Pot Stocks, Algorithmic Stock Trading, Hemp stocks