HEXO Continues to Hemorrhage Cash: First-Quarter Losses Up 487%
HEXO (NYSE: HEXO) used to be one of the most promising pot stocks in Canada. Over the past several months, however, things have taken a significant turn for the worse. Investors who hoped things might change in HEXO's fiscal Q1 2020 financial results were disappointed to find out that the company continues to hemorrhage cash.
HEXO's earlier promise of turning a profit in 2020 seems even less likely now, so investors need to ask themselves whether to stay away from this marijuana stock altogether or ride out these losses.
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Source Fool.com
