Why Pot Stocks GrowGeneration, Curaleaf, Green Thumb, and Charlotte's Web Jumped Today
Several U.S.-based cannabis stocks enjoyed nice gains on Monday. Shares of GrowGeneration (NASDAQ: GRWG) were jumping 13.5% as of 3:14 p.m. EST. Stocks of multistate cannabis operators also were rising, with Curaleaf Holdings (OTC: CURLF) and Green Thumb Industries (OTC: GTBIF) up 6.4% and 5.4%, respectively. CBD pioneer Charlotte's Web Holdings (OTC: CWBHF) moved higher as well, with shares rising 3% after climbing as much as 7.5% earlier in the day.
GrowGeneration was the only pot stock to have big news. The hydroponics and organic gardening retailer announced preliminary full-year 2020 revenue of $192 million, up 140% year over year. It also boosted 2021 revenue guidance to between $335 million and $350 million from the previous outlook of revenue between $280 million and $300 million.
Curaleaf announced that it had completed a $50 million revolving credit facility. That's not the kinds of news that usually sparks a major move for a stock, though.
Source Fool.com
