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GrowGeneration Jumps Into Arizona

The hydroponic store chain GrowGeneration Corp. (NASDAQ: GRWG) is making a big bet on the Arizona market. The company announced that it was buying Hydroponics Depot, Phoenix’s largest indoor and outdoor garden center. The company did not disclose how much was paid for the company and whether the deal was stock or cash or a combination. The […]

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The hydroponic store chain GrowGeneration Corp. (NASDAQ: GRWG) is making a big bet on the Arizona market. The company announced that it was buying Hydroponics Depot, Phoenix’s largest indoor and outdoor garden center. The company did not disclose how much was paid for the company and whether the deal was stock or cash or a combination.

The acquisition of Hydroponics Depot brings GrowGen’s portfolio of hydroponic garden centers to 29 stores across 11 states. “We’re excited to add Hydroponics Depot to our growing portfolio, with year-to-date sales in excess of $5 million and year-over-year growth at 50 percent,” said Tony Sullivan, GrowGen’s COO. “Importantly, it represents our 11th state and our first retail operation in Arizona, a key market in GrowGen’s growth plan. We see tremendous potential from both a medical and recreational standpoint.”

GrowGen pointed out that its entry into the Arizona market comes as voters consider Prop 207, which would legalize limited possession, cultivation, and use of marijuana for adults ages 21 years or older. If approved, it is estimated that Arizona’s cannabis market could grow from over a $700 million market in 2020 into a $2 billion market, including both recreational and medical marijuana. Retail sales of medical marijuana products in the state rose nearly 20% from January to May, according to the Arizona state estimates.

Hindenburg Research Fallout

The company has been relatively quiet since August’s report from well-known short-seller Hindenburg Research that questioned the company’s management team in a report. The company has chosen several cannabis companies over the years to write damning reports typically after the company has shorted shares with the goals of making existing shareholders sell. Then Hindenburg buys back the stock to cover its short at the lower price and thus making a profit.

The report doesn’t find fault with the company’s financial statements and indeed calls the company’s latest quarter “impressive” and called the business model”interesting.” It takes issue with the price of the shares being overvalued and felt that there should be a correction in the price of the company stock. However, it saved most of its criticism for the company’s executive team, which it accuses of having unsavory ties to past criminal behavior involving stock fraud.

GrowGeneration said it planned to take action against Hindenburg. Schall Legal firm had planned to investigate claims against GrowGeneration, but following a letter from GrowGeneration has had a change of heart and announced at the end of August it was no longer pursuing that investigation.

The stock fell from a year’s high of $22.88 following the report, but was beginning to recover and was lately trading at $18.86 as the stock moved higher in early trading on the news of the Arizona acquisition.


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Source: https://www.greenmarketreport.com/growgeneration-jumps-into-arizona/?utm_source=rss&utm_medium=rss&utm_campaign=growgeneration-jumps-into-arizona

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Why is smokable CBD so much cheaper?

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For example, you get 15000 mg of cbd for these cigarettes which costs $120, and you only get 350 mg of cbd in this vape pen? Is there any reason for this? All cbd oils too cost so much when you compare mg to mg. Is there any reason not to just buy hemp cigarettes other than lung health?

Source: https://www.reddit.com/r/CBD/comments/jgfswx/why_is_smokable_cbd_so_much_cheaper/

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Good CBD Dab carts?

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Visit our community site for vetted suppliers at http://theCBD.place. It’s time that this subject was given more internet exposure. We are here to discuss topics related to medical marijuana and our experiences using CBD. Please do not assume that anyone here is a medical professional.

Source: https://www.reddit.com/r/CBD/comments/jgfn3r/good_cbd_dab_carts/

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Anza swap meet vendor: Bejarano offers Hemp City CBD products

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Ed Bejarano displays Hemp City products at the Anza swap meet Saturday, Oct. 10. Anza Valley Outlook/Diane Sieker photo

Ed Bejarano has been hosting a Hemp City booth at the Anza swap meet, offering high-quality CBD creams, lotions, edibles, bath bombs and pet treats.

Only quality, established CBD companies are featured by Hemp City, Bejarano said.

“I have been going to the Anza swap meet for a long time,” he said. “My wife and I took my mother-in-law for years. What really was the deciding factor for coming to the swap meet was our customers.”

Hemp City has four stores located in Palm Springs, Cathedral City, Palm Desert and Temecula, plus online sales.

“A lot of our Palm Desert and Temecula customers live in Anza and the surrounding area, so we decided to give it a try,” he said. “We have been well received by the locals and are doing well. Our knowledge of CBD and hemp, our variety of products and quality of products make for some really good sales.”

Bejarano spends a great deal of time discussing his wares and talking to the public about the benefits of CBD products.

“People are really enjoying our hemp flower and CBD edibles. Our oils and lotions are always a hit but, we usually find ourselves educating people about CBD more than anything. That’s one of the biggest parts of this job,” he said.

The products are not for use by or sale to persons under the age of 21, and none are sold with more than 0.3% THC Delta 9.

“The hand lotion is heaven for my dry skin. I love it,” one customer said.

Vendor spaces are $18 per spot. Members of the Anza Community Hall receive a $3 discount. The funds collected go to help keep the Community Hall operating and serving the community.

Community Hall memberships are $30 per year per person and $50 annually for a business.

For more information about the Anza swap meet, call 951-282-4267 or visit the Anza Community Hall on Facebook at http://www.facebook.com/AnzaCommunityBuildingInc/.

Diane Sieker can be reached by email at dsieker@reedermedia.com.

Source: https://www.google.com/url?rct=j&sa=t&url=https://myvalleynews.com/anza-swap-meet-vendor-bejarano-offers-hemp-city-cbd-products/&ct=ga&cd=CAIyGjQ2MzM1ZTBkNWQyZmIyYzc6Y29tOmVuOlVT&usg=AFQjCNFRh9rznYdR7Q2EOlLD_Lc1sW8LsQ

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