When a stock is up 568% in 12 months that usually a good time to lock in some gains. However, the cannabis sector just created an exception.
GrowGeneration Corp. (NASDAQ: GRWG) is the largest retailer of specialty hydroponics and cultivation materials in the U.S. GrowGen currently own 55 stores, which include 20 locations in California, eight locations in Colorado, seven locations in Michigan, five locations in Maine and Oklahoma, two locations in Nevada, Washington, Oregon, Arizona, Rhode Island, Florida, and Massachusetts. GrowGen also operates an online superstore for cultivators. Continue reading “Up 568% in 12 Months and More to Come?”→
It’s the opening chapter of California’s new era of regulated cannabis, and already a market disruption is underway.
Generally, retailers have ample product on store shelves for both adult use and medicinal cannabis consumers, but some brands are now in short supply. Prices are mostly stable, though new state taxes on legal purchases have meant sticker shock for customers.
Meanwhile, the black market appears to be thriving anew—invigorated by dissuasive taxes on growers, plus licensing fees and frustrations over difficulties of entering the legal economy. If more cultivators aren’t licensed by the state, manufacturers for cannabis concentrates for vape pens, waxes, and infused edibles fear they may run short of their critical production component – leafy cannabis trim – by summer.
At a state briefing on environmental rules that await growers entering California’s soon-to-be-legal marijuana trade, organic farmers Ulysses Anthony, Tracy Sullivan and Adam Mernit listened intently, eager to make their humble cannabis plot a model of sustainable agriculture in a notoriously destructive industry dominated by the black market.