Grove, Inc

GRVI NASDAQ
GRVI
Grove, Inc NASDAQ
 
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Upcoming Earnings
EPS
Market Cap
Div Yield
P/E

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Jun 282021

Grove gets high

Cannabidiol products manufacturer Grove spends Friday as one of TradingView’s Top Gainers, jumping 40% following its successful IPO.

Shares of Grove Inc were trading up just over 40% on Friday after its IPO on June 24, which saw prices open at $5 and close at $5.60. Grove Inc entered the pot stock game with its own organic hemp CBD and its own in-house facility, manufacturing everything from CBD gummies to CBD oil.

If Friday’s trading volume is anything to go by, investors are keen to finally jump aboard. The company priced its IPO of 2.2 million common shares at $5 each to raise around $11 million.

GRVI is a tiny firm but is growing quickly, has achieved breakeven and the IPO appears reasonably priced. For investors seeking exposure to a growing micro-cap company in the cannabis space, the IPO is worth a close look,

said seeking Alpha contributor Donovan Jones.

Grove has anointed itself as an “expert in hemp”, but it’ll certainly have some competition from pot stocks like Aurora Cannabis an Canopy Growth as the marijuana industry gets closer and closer to federal legalization. The marijuana industry is expected to double in value by 2025, and there are plenty waiting in line to get some of the action.