After trading near all-time highs in 2021, cannabis stocks have trailed the broader markets by a wide margin in the last three years. One such cannabis penny stock is GrowGeneration (GRWG), which trades 97% below all-time highs.
Colorado-based GrowGeneration develops, markets, distributes, and retails products for indoor and outdoor hydroponic and organic gardening, in addition to customized storage solutions. It sells several products, including nutrients, additives, and environmental control systems. In fact, GrowGeneration is among the largest retailers and distributors of specialty hydroponic and organic gardening products in the U.S.
With a market cap of $135 million, GrowGeneration might soon gain momentum, given that the company’s management is buying shares of the beaten-down marijuana stock. Let’s dive deeper to see if you should consider buying this cannabis penny stock.
