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GrowGeneration Soars 36% On Higher FY22 Outlook

Shares of organic garden centers chain GrowGeneration Corp. (GRWG) are climbing 36 percent on Tuesday's trading after the company lifted its revenue outlook for fiscal 2022, above estimates.

The company now expects 2022 revenue to be between $270 and $280 million, which is higher than the earlier projection of between $250 million and $275 million. On average, 8 analysts projected by Thomson Reuters expect the company to post revenue of $260.8 million for the year ahead.

Adjusted EBITDA guidance is updated to be between a loss of $10 million to $13 million, an improvement from the previous range of a loss of $12 million to $15 million.

Currently at $4.5200, the stock has traded between $2.9200 and $25.8000 during the past 52 weeks.

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