GRWG - Hydroponics Giant Announces $6M Share Repurchase Program CEO Says Understanding 'Where Every Nickel Goes' Is Vital For Business Growth | Benzinga
Cannabis-focused hydroponics giant GrowGeneration Corp. (NASDAQ:GRWG) announced this week that its board of directors has authorized the company's first share repurchase program to repurchase up to $6 million of its outstanding common stock.
Beginning on April 1, the share repurchase program will continue for up to one year, allowing repurchases to be made in the open market.
Darren Lampert, the company's co-founder and CEO, explained what the move means for GrowGen.
"Today's announcement of our share repurchase program further underscores our conviction in the strength of our underlying business and our view that GrowGen shares remain undervalued," Lampert said. "This program acts as one pillar of our shareholder value creation strategy as we continue to evaluate all potential uses for our strong balance sheet, including reinvesting in our brands, strategic acquisitions, and stock repurchases to enhance long-term shareholder value."
Lampert was a panelist at the Benzinga Cannabis Capital Conference this past September ...