What happened?GrowGeneration shares closed Monday 11.5% higher, thanks to a strong growth spurt. This major stock index inclusion gave the hydroponics retailer operator a boost.What are you waiting for?This index is the Russell 2000. It's a highly regarded and influential small-cap stock collection. GrowGeneration was officially made one of the components on Monday morning.According to the company's CEO Darren Lampert, "We believe that our Russell 2000 listing will increase long term shareholder value by improving awareness and liquidity and appealing to institutional investors," he stated.However, it won't change GrowGeneration’s business strategy to acquire significant market share through acquisitions. Lampert also stated that his company would continue to expand the number of hydroponic gardening centers while increasing revenue and profit.This strategy has helped GrowGeneration to do well in recent months. The company's most recent quarter saw organic growth and acquisitions driving 173% more revenue year-over-year. It also earned a GAAP profit of $6.1 million. This is a rare feat for any company involved in the marijuana industry.What now?Despite being modest, GrowGeneration's profitability sets it apart from other cannabis stocks. Russell 2000 inclusion will further differentiate the company. GrowGeneration is on the right track to be a major player in hydroponics and should remain a top picks-and-shovels choice for marijuana stock investors.
