The marijuana stock was down by over 6% in late afternoon trading, in an apparent reaction to the appointment of a new company executive. That new Hexo executive is Guillaume Jouët, who is taking the role of chief people and culture officer at the Canadian marijuana company. He will formally begin his tenure on Sept. 8.
Will hExo stock be delisted from the NASDAQ?
Dec 17, 2021 · Why Hexo Stock Was Down 11.8% This Week. By Jim Halley - Dec 17, 2021 at 8:02AM Key Points. It reported first-quarter earnings and structural changes. The company will have a new CEO and CFO. ...
What's happening with hExo?
Aug 20, 2021 · That price is just 8% below the stock's closing price on Thursday. But there's more to the story, which is why stock is trading below $2.40 per share this morning. Image source: Getty Images. Hexo ...
Is hExo a buy or sell on the price targets?
Apr 22, 2022 · Latest Hexo Earnings Include Massive Write-Down In Setup For Must-See Turnaround msn.com - March 23 at 9:05 PM: What Are Upside Catalysts For HEXO Stock? Analyst Thoughts Post Q2 Earnings msn.com - March 23 at 9:05 PM: Top Penny Stocks Today: Why SNDL, HYMC, ACB, SKLZ, ZTEK and HEXO Are on the Move Wednesday - InvestorPlace
What is the ticker symbol for hExo?
Dec 17, 2021 · Why Hexo Stock Was Down 11.8% This Week ... There are plenty of concerns regarding Hexo stock, not the least of which is the threat of it being delisted from the Nasdaq, as the stock has been ...
Why is Hexo stock so low?
Shares of Hexo Corp. plunged to a new low Friday after the company disclosed a going concern about its looming debt load in the release of its fourth-quarter results.Oct 29, 2021
What is the prediction for Hexo stock?
Stock Price Forecast The 5 analysts offering 12-month price forecasts for Hexo Corp have a median target of 0.59, with a high estimate of 0.79 and a low estimate of 0.42. The median estimate represents a +25.82% increase from the last price of 0.47.
Is Hexo a good buy right now?
RSI min/max Values: [ 25 - 75 ] The HEXO Corp. stock currently holds an RSI14 at 16 and is oversold on RSI14....Predicted Opening Price for HEXO Corp. of Thursday, April 21, 2022.Fair opening price April 21, 2022Current price$0.48$0.47 (Undervalued)
Is HEXO a Buy Sell or Hold?
Conversely, if the yield on stocks is higher than the 10 Yr., then stocks would be considered undervalued....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return1Strong Buy24.93%2Buy18.44%3Hold9.99%4Sell5.61%2 more rows
Will organigram stock go up?
and has now fallen 7 days in a row. During the day the stock fluctuated 10.27% from a day low at $1.46 to a day high of $1.61....Predicted Opening Price for OrganiGram Holdings Inc. of Monday, April 25, 2022.Fair opening price April 25, 2022Current price$1.51$1.46 (Undervalued)
What to expect from HEXO next earnings?
HEXO.TO - HEXO Corp.Earnings EstimateCurrent Qtr. (Jan 2022)Next Year (2023)Avg. Estimate-0.09-0.21Low Estimate-0.09-0.25High Estimate-0.09-0.15Year Ago EPS-0.17-0.621 more row
The company announced the pricing of a new share offering
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
Key Points
Hexo will use the fresh capital to pay for a portion of the acquisition of Canada's largest privately owned licensed cannabis producer.
What happened
Canadian cannabis producer Hexo ( NASDAQ:HEXO) just announced pricing on its latest share offering, and it wasn't what current shareholders wanted to see. As of 10:40 a.m. EDT Friday, Hexo's stock was down 25%.
So what
The company said it would price its previously announced offering at $2.95 per unit. That price is just 8% below the stock's closing price on Thursday. But there's more to the story, which is why stock is trading below $2.40 per share this morning.
Now what
Hexo has been aiming to grow through acquisitions, having purchased three companies since May 2021. The largest was the purchase of Canadian grower Redecan for the equivalent of about $765 million. Redecan was Canada's largest privately owned licensed pot producer.
About HEXO
HEXO Corp., through its subsidiaries, produces, markets, and sells cannabis in Canada. It offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. The company offers its adult-use and medical products under the HEXO brand name.
Headlines
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HEXO (TSE:HEXO) Frequently Asked Questions
5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for HEXO in the last year. There are currently 2 sell ratings and 3 hold ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" HEXO stock.
What happened
Marijuana investors are in a funk today, as shares of Hexo (NASDAQ: HEXO) drop 9.7%, Aurora Cannabis (NASDAQ: ACB) declines 7.2%, and Sundial Growers (NASDAQ: SNDL) falls 5.5%, as of 12:40 p.m. ET. There's a reason why Hexo stock is down so much more than the others, too.
So what
And when I say "Wall Street," I mean investment banks CIBC and Canaccord Genuity. In twin reports this morning, CIBC downgraded Hexo stock to a sell with a price target of just $0.62 per share, and Canaccord cut its price target on Hexo in half -- to $0.77 -- says The Fly.
Now what
Such massive stock dilution easily explains why investors are panicking over Hexo stock today. But is the situation as bad at Aurora Cannabis and Sundial Growers? Are the sell-offs at those stocks justified as well?
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