Scotts Miracle-Gro (NYSE:SMG), which is now hoping to become a major player in the marijuana stock market, had a rough January when shares plummeted 15.6% over the course of the month, according to S&P Global Market Intelligence.
The struggles are continuing in February as the stock is down 16.5% through February 13th and is now causing concern as it has returned a a negative-1.2% over the past year, not a good sign for a stock looking to make waves and stay viable in the ever-changing market.
Scotts Miracle-Gro can, partly, blame the release of results first-quarter results which was done on January 30th and abruptly saw a loss of 14.2% that day. Yikes.
The stock reported a year-over-year revenue increase of 7% in addition to a loss from continuing operations of $0.35 per share on a GAAP basis and including a a loss of $1.08 per share on an adjusted basis, per research from Motley Fool.
The size of the loss was far more than what Wall Street was expecting, which was a $0.92 loss-per-share.
This should raise red flags for investors and Scotts Miracle-Gro (NYSE:SMG) should be handled carefully as it tries to rebound and get back on track.