Why GrowGeneration Tumbled More Than 20% in August
GrowGeneration (NASDAQ: GRWG), which sells hydroponic supplies and equipment for the cannabis industry, saw its stock skyrocket at the beginning of the year. But it's since been slowly dropping, and it lost another 21% last month, according to data from S&P Global Market Intelligence.
GrowGeneration is a cannabis industry supplier, not a grower itself. That makes it more immune to industry ups and downs and gives it more leverage to grow as the industry grows, making it a popular stock to hold.
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Source Fool.com
