If You Invested $1,000 in HEXO's IPO, This Is How Much Money You'd Have Now
HEXO (NYSE: HEXO) stock has taken quite a beating this year. Shares are down nearly 55% year to date, and have been on a steady downward decline for some time. Last July, the stock's price was hovering around $5 a share. Now, HEXO is facing the possibility of being delisted from the New York Stock Exchange (NYSE). On April 7, the NYSE alerted the company that it faced delisting because its share prices had remained beneath the exchange's $1 benchmark for 30 successive business days. Because of the pandemic, the NYSE has given HEXO until Dec. 16 to boost its share price back to $1 or higher.
To prevent shares from being delisted, management must maintain an average stock price of $1 or higher at market close for a minimum of 30 business days and conclude the final business day of any month with a minimum $1 share price by the Dec. 16 deadline. HEXO entered its initial public offering (IPO) on the Toronto Stock Exchange (TSX) on Nov. 19, 2014. The stock was priced at 1.05 Canadian dollars per share. The company began trading on the NYSE at market open on Jan. 23, 2019.
Here's what your investment would like like now if you had bought up $1,000 of HEXO stock the time of its IPO.
Source Fool.com
