Why GrowGeneration Stock Is Soaring Today

Shares of GrowGeneration (NASDAQ: GRWG) were soaring 20.1% higher as of 11:22 a.m. EDT on Monday. The big gain appears to be due to continued momentum from the specialty hydroponic and organic gardening retailer's impressive second-quarter results announced last Thursday. With today's jump, GrowGeneration's share price is up more than 80% since the company provided its Q2 update.

Were GrowGeneration's Q2 results really good enough to warrant the huge surge over the last few days? Yep.

The company reported its 10th consecutive quarter of record revenue, with sales vaulting 123% higher year over year to $43.5 million. GrowGeneration's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) skyrocketed 166% higher to $4.6 million. Its net income based on generally accepted accounting principles (GAAP) more than doubled to $2.6 million.

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Source Fool.com