GRWG - Why GrowGeneration Stock Is Plunging Today
Shares of GrowGeneration (NASDAQ: GRWG) were plunging 18.2% as of 11:10 a.m. EDT on Thursday. The big decline came after the specialty hydroponic and organic garden retailer reported its second-quarter results before the market opened.
GrowGeneration announced Q2 revenue of $125.9 million. This nearly tripled the company's revenue of $43.5 million in the prior-year period. It also handily beat analysts' consensus revenue estimate of $111.7 million.
The company posted earnings per share (EPS) of $0.11. Although this result was better than the EPS of $0.06 in the same quarter of 2020, it fell a little short of analysts' average estimate of $0.12.
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Why GrowGeneration Stock Is Plunging Today