Down 74% in 7 Months, Is HEXO Now a Buy?
What a difference half a year makes.
Earlier this year, it was as if marijuana stocks could do no wrong, and Quebec-based HEXO (NYSE: HEXO) was among those leading the pack. Having transferred from the over-the-counter exchange to the New York Stock Exchange earlier in the year, HEXO's stock hit what would be its pinnacle in late April at $8.28 per share and a market cap of well over $1 billion.
However, the past seven months have been nothing short of tragic for shareholders of the very popular pot stock. Shares of HEXO have shed 74% over this time frame, and Wall Street has piled on with downgrades and price target cuts of its own.
Source Fool.com
