GRWG - Better Buy: GrowGeneration or Turning Point Brands?
GrowGeneration (NASDAQ: GRWG) and Turning Point Brands (NYSE: TPB) are ancillary cannabis stocks. They don't sell cannabis, but benefit from cannabis sales and use.
The advantages of ancillary cannabis stocks compared to pure-play cannabis stocks are that ancillary companies are usually more established, and their shares are less volatile, as their businesses are less susceptible to the problems that face some pure-play stocks, such as difficulty getting funding from traditional sources.
In return for that reduced risk, they may also have less long-term upside, though many ancillary stocks that deal in some way with cannabis should still benefit as more states open up to cannabis sales. Looking at GrowGeneration, the largest hydroponics supply company in the U.S., and Turning Point Brands, known for its alternative smoking products, which is the better buy right now?
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Better Buy: GrowGeneration or Turning Point Brands?