GrowGeneration Slides 5% on Q1 Results Despite Beats

GrowGeneration's (NASDAQ: GRWG) status as a favored marijuana stock took a bit of a ding on Thursday after the hydroponics retailer reported its first-quarter results. For the quarter, fueled by both organic growth and a raft of acquisitions, revenue rose 173% on a year-over-year basis to $90 million. GrowGeneration also managed a flip on the bottom line, with a net profit exceeding $6.1 million ($0.10 per share) versus the year-ago loss of almost $2.1 million.