GrowGeneration Stock Tumbles. The Hydroponics Market Is Slowing.

view original post

Shares of GrowGeneration fell sharply Thursday after the gardening products retailer lowered guidance due to a general slowdown in the hydroponics market.

The stock fell 8.2% to $10.19.GrowGeneration (ticker: GRWG) said full-year revenue will be between $420 million to $422 million. Analysts tracked by FactSet predicted $435.3 million. GrowGeneration said in November that it expected full-year revenue of $435 million to $440 million. In 2020, sales were $193 million.

The…