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Why HEXO Stock Is Getting Smoked This Week
Investors weren't impressed by the company's latest earnings, to put it mildly.
What happened
Canadian cannabis purveyor HEXO (NYSE:HEXO) has been a dud over the last few days, with its shares falling by 12% week to date as of Thursday's market close. Marijuana stocks are generally volatile, and HEXO's latest earnings report wasn't its greatest.
So what
HEXO published its third-quarter results on Monday. It booked 22.7 million Canadian dollars ($18.4 million) in total revenue. This was only 2% higher on a year-over-year basis; worse, it was 31% lower quarter over quarter.
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