Is Hexo Stock Getting Squeezed Today?
Shares of HEXO (NYSE: HEXO), a Canadian cannabis producer, are clocking significant gains even though everything's quiet on the northern front. The marijuana stock gained 12.6% as of 12:52 p.m. EST on Tuesday in what looks like a textbook example of a short squeeze.
Around 12.3% of Hexo shares available for trading are sold short. That isn't as disturbing as the percentage for some of Hexo's cannabis-producing peers, but it's enough to cause a panic among short-sellers.
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Source Fool.com