Why GrowGeneration Stock Is Sinking Today
Shares of GrowGeneration (NASDAQ: GRWG) were down by 13.4% as of 11:51 a.m. EDT on Thursday. The specialty hydroponic and organic gardening retailer didn't report any news that would justify the drop, so the most likely reason for it is that some investors are taking profits off the table following the stock's big jump over the last few days.
GrowGeneration announced spectacular second-quarter results last week, posting all-time high revenues and earnings. It also provided optimistic guidance for the rest of the year and for 2021.
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Source Fool.com
