In this article, we will discuss the 5 best weed stocks to buy now. If you want to read our comprehensive analysis about the cannabis industry trends and outlook, go directly to the 10 Best Weed Stocks to Buy Now.
5. GrowGeneration Corp. (NASDAQ: GRWG)
Number of Hedge Fund Holders: 18
Colorado-based marijuana growing supplies retailer GrowGeneration Corp. (NASDAQ: GRWG) ranks 5th in our list of 10 best weed stocks to buy now. Formerly known as Easylife Corp., the company is the biggest hydroponics supplier in the US, with 53 retail stores across 12 states. The company is one of the fastest-growing weed stocks to buy now. It recently completed its sixth acquisition, as the GrowGeneration Corp. agreed to buy California-based 55 Hydroponics in mid-March.
The company has a market cap of $2.5 billion. In 2020, the company’s net revenue increased 142.5% to 193.4 million compared to $79.7 million in 2019. Shares of GRWG surged 825.8% over the past twelve months.
At the end of the fourth quarter of 2020, 18 hedge funds in the database of Insider Monkey held stakes of GrowGeneration Corp. (NASDAQ: GRWG), up from 10 in the previous quarter. The total value of these stakes at the end of Q4 is $142 million.