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Why GrowGeneration Stock Jumped Today

TheMotleyFool

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Shares of GrowGeneration (NASDAQ: GRWG) were jumping 9.6% higher as of 3:41 p.m. EDT on Friday, with the stock rising as much as 15.4% earlier in the day. The big gain came after Oppenheimer analyst Brian Nagel increased his price target for the stock to $25 from $15.

Friday's move marked the second day in a row of solid gains for the picks-and-shovels cannabis stock. GrowGeneration's shares rose nearly 8% on Thursday with Stifel analyst Andrew Carter issuing a buy rating with a price target of $22.

Image source: Getty Images.

Source Fool.com

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