2023-03-07 03:09:01 ET
Summary
- Hydrofarm Holdings went public in December 2020, raising approximately $173 million in gross proceeds in an IPO.
- The firm sells hydroponic equipment to commercial growers and consumers in major markets worldwide.
- HYFM has produced contracting revenue and worsening losses amid a cannabis industry slump.
- Management may be tempted to embark on acquisitions during the downturn.
- I'm on hold for HYFM until management can reignite growth organically and reduce operating losses.
For further details see:
Hydrofarm Contends With Industry Downturn But May Become Acquisitive