HEXO Shares Slump 27% on Second-Quarter Results
HEXO's (NYSE: HEXO) week is not starting off well. On Monday, the cannabis products maker released its results for the second quarter of its fiscal 2020, and the market responded by selling off its stock.
For the quarter, the Ottawa-based company booked net revenue of 17 million Canadian dollars ($12.1 million), 17% higher than in Q1. On the bottom line, its net loss narrowed to slightly over CA$298 million ($213 million); the previous quarter's deficit was more than CA$364 million ($260 million). On a per-share basis, the Q2 net loss amounted to CA$1.13 ($0.80).
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Source Fool.com
