Is HEXO Stock a Buy?
After Canada legalized marijuana in 2018, all was going well for Canadian pot company HEXO (NYSE: HEXO) at first. Then the company started seeing a decline in revenue, challenged by cheaper prices on the illicit market. Regulatory delays and a lower-than-expected number of legal stores brought revenue down further, to the point that HEXO's share price fell below $1, the NYSE listing standard.
Because of this, HEXO has received an NYSE listing warning. It now has until the end of the year to get its shares trading above $1. The company is working not only to stay afloat amid the coronavirus crisis but to rebuild itself once the pandemic retreats -- which is evident from its entry into Israel's medical cannabis market.
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Source Fool.com
