3 Reasons HEXO’s Q4 Results Should Give Investors Pause
To say that things haven't been going well for HEXO (NYSE: HEXO) would be an understatement. Since October, the stock has seen its market cap nearly cut in half, with HEXO's share price falling more than 45% during that time. News that its CFO was leaving and that the company would be withdrawing its forecast for fiscal 2020 are just a couple of big reasons why the stock has fallen by so much.
However, in looking at the company's recent Q4 report, there are three more reasons that should make investors think twice before buying shares of the troubled pot stock.
Unfortunately, losses are not been uncommon for many marijuana stocks. Amid such high growth, many companies are spending tons of money to be able to have their products ready to go and to meet demand. In its most recent quarter, HEXO incurred a net loss of $56.7 million Canadian dollars, more than five times the CA$10.5 million loss it incurred a year ago.
Source Fool.com
