Why Did Scotts Miracle-Gro Climb 21% in April?
Scott's Miracle-Gro (NYSE: SMG), one of the world's biggest companies for lawn and garden care, popped 21.1% in April, according to data from S&P Global Market Intelligence. The company's best-in-class brands include Scotts, Miracle-Gro, and Ortho, and it has a wholly owned subsidiary in Hawthorne Gardening, an indoor farming and hydroponics company.
While it's hard to know yet, some perceive the company as being immune to the coronavirus crisis, which didn't really affect lawn and garden care. The company is also growing from exposure to the booming legal marijuana growing industry in North America.
At the end of March, Scotts announced preliminary results for its second fiscal quarter. It said demand across the board for products had surged in recent weeks, especially in categories focused on edible gardening, professional growing, and pest control.
Source Fool.com
