Stock Market News: Marijuana Stocks Fall on HEXO Offering; Vail Resorts Goes Downhill
Friday morning brought modest gains for the stock market at the open, as a generally upbeat move continued to lift many major market benchmarks to new highs. Between a favorable start to earnings season and the improvement in trade relations between the U.S. and China, investors seem satisfied that things are generally going well. As of 10 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 29 points to 29,327. The S&P 500 (SNPINDEX: ^GSPC) was higher by 6 points to 3,323, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 11 points to 9,368.
However, some parts of the stock market didn't follow the general upward trend. Marijuana stock HEXO (NYSE: HEXO) led cannabis stocks lower as it once again said it would need to do a stock offering to raise capital. Meanwhile, Vail Resorts (NYSE: MTN) gave an early report on the 2019-20 ski season that raised some concerns among its shareholders.
Shares of HEXO were down 7% Friday morning, creating negative sentiment that seemed to send several other marijuana stocks lower in sympathy. The Canadian cannabis company once again said it would sell stock in order to raise cash.
Source Fool.com
