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Why HEXO Shares Are Up Today

TheMotleyFool

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Shares of Canadian cannabis company HEXO (NYSE: HEXO) jumped 10% on Monday morning after the company reported its first-quarter fiscal 2021 earnings. Shares settled back, and remain about 4% higher as of 10:10 a.m. EST.

Though the company continued to report a net loss, its 41.3 million Canadian dollar gross revenue is a quarterly record, and a 114% increase from the previous-year period. HEXO continues to slowly advance toward profitability as its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improved for the sixth straight quarter.

Source Fool.com

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