Why HEXO Stock Soared Today
Shares of HEXO (NYSE: HEXO) were soaring 17.4% higher as of 3:28 p.m. EDT on Thursday. The stock's jump came after HEXO's joint venture with Molson Coors Brewing (NYSE: TAP), Truss Beverages, announced plans for six cannabis-infused beverages in the Canadian cannabis derivatives market, starting with a CBD-infused spring water developed in partnership with Flow Glow Beverages.
HEXO sorely needed some good news after revealing that its Q4 revenue won't be nearly as high as expected. But the big question for investors is: Just how good is the latest news from Truss?
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