The Cannabis Industry Is Booming; Is This Supplier a Buy?

Few investors are unaware by now of the booming cannabis market. The drug is federally legal in Canada and in many U.S. states, and it looks to be on a path toward federal legalization in the U.S. This commercialization of cannabis has led to a boom in growing the plant across North America. One industry that has benefited from this is hydroponics, which is when someone grows a plant without soil. Many cannabis growers utilize this growing method.

GrowGeneration (NASDAQ:GRWG) is a fast-growing hydroponics supplier that is benefiting from this surge in popularity for cannabis. Does that make the stock a buy?