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Why HEXO Corp Stock Dropped 9% Today

TheMotleyFool

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Canadian cannabis company HEXO Corp (NYSE: HEXO) saw its stock close 9% lower on Friday -- and has mostly just itself to blame.

This morning, HEXO announced a plan to float and sell 12 million shares of stock at an offering price of $1.67 per share, generating $20 million in gross proceeds "before deducting fees and other estimated offering expenses."

Image source: Getty Images.

Source Fool.com

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