DENVER - GrowGeneration Corp. (NASDAQ: NASDAQ:GRWG), a major retailer and distributor of hydroponic and organic gardening products, has announced the appointment of Starlett (Star) Carter to its Board of Directors. The appointment, effective today, follows the retirement of Paul Ciasullo from the board on April 23, 2024.
Carter, a Leadership Advisor and Consultant at Egon Zehnder in Dallas, Texas, brings a wealth of experience to the GrowGeneration board, having previously served on the boards of Kanarys, Inc. and Legal Aid Texas.
With a background that includes a Bachelor of Business Administration in Marketing and a Juris Doctor from Harvard Law School, Carter has been recognized by Inc. Magazine, AfroTech, and Entrepreneur Magazine for her achievements.
GrowGeneration's CEO and Chairman, Darren Lampert, expressed gratitude to Ciasullo for his contributions and welcomed Carter's (NYSE:CRI) expertise, which he believes will support the company's growth in the hydroponic and organic gardening market.
Carter herself expressed enthusiasm for joining the board and contributing to GrowGeneration's future success, citing the company's financial position and management team as strong foundations for growth.
GrowGeneration, established in 2014 in Colorado, operates the largest chain of specialty retail hydroponic and organic garden centers in the United States. The company also manages an online store and a wholesale distribution business, underscoring its position in the market for indoor and outdoor gardening products.
This announcement is based on a press release statement from GrowGeneration Corp.
InvestingPro Insights
As GrowGeneration Corp. (NASDAQ: GRWG) welcomes Starlett Carter to its Board of Directors, the company's financial health and stock performance remain a focal point for investors. GrowGeneration holds a market capitalization of $144.53 million, reflecting its standing in the industry as a significant player in the hydroponic and organic gardening market.
Despite a challenging period with revenue declining by 18.8% in the last twelve months as of Q4 2023, the company has managed to maintain a relatively strong balance sheet. An InvestingPro Tip highlights that GRWG holds more cash than debt, which could provide the company with flexibility to navigate through market fluctuations and invest in growth opportunities.
Another key metric for investors is the company's stock price volatility. GrowGeneration's stock has experienced significant price swings, with an 11.37% return over the last week, yet a decline of 7.48% over the past month.
This high volatility is underscored by two InvestingPro Tips, which note that the stock generally trades with high price volatility and that stock price movements are quite volatile. This could signal opportunities for investors who thrive on short-term trading strategies, but also suggests caution for those seeking more stable investments.
For those looking for more detailed analysis and additional InvestingPro Tips, GrowGeneration has a total of 8 tips available on InvestingPro. These tips include insights into profitability, liquidity, and dividend policy, which can be critical for making informed investment decisions. For a deeper dive into GrowGeneration's financials and to access all the tips, investors can visit https://www.investing.com/pro/GRWG. Moreover, by using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert analysis to guide their investment choices.
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