Can HEXO Save Itself From Collapsing?
An outstanding pot stock that rose when Canada first legalized cannabis seems to be collapsing this year. HEXO (NYSE: HEXO) saw a fair share of bad news in 2019.
It repeatedly missed its earnings and revenue guidance last year, which put the company in a cash crunch. The resignation of Chief Financial Officer Michael Monahan made investors anxious, dampening HEXO's stock performance. The company lost 70% of its stock value in 2019 and is down 36% year to date. It looks like its bad times aren't over yet as it reported yet another EBITDA loss of CA$4.3 million in its third-quarter results released this morning.
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Source Fool.com
