Hydrofarm Clears $1; Traders Still Wary Over Debt Signal
Hydrofarm Holdings Group was last seen at $1.02 on Monday in late U.S. hours, trading lightly but sticking above $1 in a slow day for the Nasdaq hydroponics company. About 15,400 shares changed hands, under the latest average, with a range from 98 cents to $1.03. Hydrofarm is not your standard small-cap rebound story. The company is operating under a lender forbearance right now. That’s a temporary deal where lenders hold back on enforcing remedies after a debt default, as Hydrofarm looks to keep its liquidity together.