Why Scotts Miracle-Gro Fell 13.6% in February
Shares in lawn, garden care, and hydroponics products company Scotts Miracle-Gro (NYSE: SMG) sank 13.6% in February, according to data provided by S&P Global Market Intelligence. That was a sharp reversal for the stock after its 16% rise in January, to cap it all off the stock is up 11% in March as of Monday morning.
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The stock's wild swings are being driven by a couple of factors. On the positive side, the company's first-quarter earnings -- released toward the end of January -- were well received by the market. Its overall sales were up a whopping 23% on the back of a 41% increase in sales from its Hawthorne Gardening Company segment. For reference, Hawthorne is a provider of nutrients, lighting and other products used in indoor gardening and hydroponics -- making it a cannabis stock.
Source Fool.com
