5 Best Cannabis Stocks To Buy Now

3. The Scotts Miracle-Gro Company (NYSE:SMG)

Number of Hedge Fund Holders: 17

The Scotts Miracle-Gro Company (NYSE:SMG) is involved in the production, promotion, and distribution of products related to lawn and garden care, as well as indoor and hydroponic gardening. The company has applied its expertise in horticulture and gardening to develop innovative technologies and solutions specifically tailored for cannabis cultivation. This includes the creation of advanced lighting systems, hydroponic equipment, and other tools aimed at optimizing growing conditions and enhancing crop yields. In early November, The Scotts Miracle-Gro Company (NYSE:SMG) made an announcement indicating that it was actively engaged in discussions regarding the creation of a vertically integrated cannabis company. This strategic move was part of the company’s exploration of various alternatives for Hawthorne Gardening Company, its subsidiary specializing in products for cannabis cultivation.

According to Insider Monkey’s first quarter database, 17 hedge funds were bullish on The Scotts Miracle-Gro Company (NYSE:SMG), compared to 28 funds in the prior quarter. Paul Marshall And Ian Wace’s Marshall Wace LLP is a prominent stakeholder of the company, with 445,167 shares worth $23 million.