Why Cannabis Stock Agrify Zoomed 19.5% Today
Shares of Agrify (NASDAQ: AGFY) popped today, rocketing as high as 19.5% in the first hour of trading before cooling off a bit to end the day up 8.3%. Agrify received its first-ever buy rating from an analyst, and it was enough to send the indoor cannabis grow solutions stock shooting through the roof.
If you haven't heard about Agrify stock, that's probably because the company became public only earlier this year through an IPO.
On Friday, a Craig-Hallum analyst initiated coverage of Agrify stock and put a buy rating on it with a price target of $25 a share. That represented nearly 37% upside from the stock's closing price on Thursday.
Source Fool.com
