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Why HEXO Stock Is Soaring Today

TheMotleyFool

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Shares of HEXO (NYSE: HEXO) headed higher Wednesday morning after the cannabis company's joint venture with Molson Coors (NYSE: TAP), Truss CBD USA, announced the U.S. launch of a new line of nonalcoholic CBD-infused beverages. As of 11:31 a.m. EST, the stock was up by 13.8%.

There's one important detail to consider regarding Truss CBD's U.S. launch of its CBD beverages: They'll only be available in Colorado. In light of that, some might view HEXO's Wednesday gains as excessive.

Image source: Getty Images.

Source Fool.com

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