GrowGeneration Officially Opens 11th Store In Las Vegas

NEVADA: GrowGeneration, one of the largest specialty retail hydroponic and organic gardening store chains selling to both the commercial and home cannabis markets, announced the opening of its 11th store in Las Vegas on January 17th. GrowGen separately announced that it is one of 11 companies recently added to MJIC’s Marijuana Index.

GrowGen’s 11th store, located at 5885 South Valley View Blvd., Las Vegas, NV 89118, is a 10,000 sq ft store, and will serve a wide range of small, medium and large scale commercial growers. Conveniently located minutes from the Las Vegas strip, we believe GrowGeneration Las Vegas is one of the largest hydroponic stores in the Nevada market.

Addition to MJIC Marijuana Index

The United States Marijuana Index tracks the leading public cannabis companies operating in the United States. The index is equal-weighted and rebalanced quarterly. The North American Marijuana Index now has 28 constituents, and the U.S. Marijuana Index and the Canadian Marijuana Index have 17 constituents and 11 constituents, respectively. The Marijuana Index includes companies that have achieved a weighted average minimum market capitalization of $30 million USD, daily trading volume of $400,000 USD and share price of $0.10 USD. Companies with more than $5 million USD of revenue over the prior year are exempted from the above trading requirements. GrowGeneration’s revenue production in 2016 qualified it for inclusion in the Marijuana Index.

GrowGen CEO Comments

Darren Lampert, Co-Founder and CEO, said, “The addition to the MJIC Marijuana Index is another validation of GrowGeneration’s rapid growth and market position as a leading supplier of equipment and grow supplies to the cannabis and indoor cultivation industry. With 11 stores and counting, we are excited to open the doors of our Las Vegas store and for the trajectory of GrowGen’s growth to be tracked in the leading index of public cannabis companies. Executing and opening our GrowGen Las Vegas operation, furthers our business plan to aggressively expand our store footprint in all adult use markets.”

Marijuana Boom Spawns Ancillary Businesses

CALIFORNIA:  Ben Wu took a six-figure pay cut when he left a career in private equity for a shot at the marijuana boom.

Trained to spot small businesses with big potential, he started this year as chief executive of Kush Bottles, a Santa Ana company that sells child-resistant plastic cannabis containers.

It took some persuading to get his parents and girlfriend to embrace the move. But Wu insists it was a sound business decision. As the pot industry blossoms, he reasoned, a robust supply chain is needed to help grow, package and market legal marijuana.

“The sky’s the limit,” said Wu, 35, a New York University business school graduate and former vice president at Wedbush Capital Partners. “As long as states continue to adopt, we’re going to double growth each and every year.”