Why HEXO Stock Is Getting Smoked This Week
Canadian cannabis purveyor HEXO (NYSE: HEXO) has been a dud over the last few days, with its shares falling by 12% week to date as of Thursday's market close. Marijuana stocks are generally volatile, and HEXO's latest earnings report wasn't its greatest.
HEXO published its third-quarter results on Monday. It booked 22.7 million Canadian dollars ($18.4 million) in total revenue. This was only 2% higher on a year-over-year basis; worse, it was 31% lower quarter over quarter.
Net loss totaled CA$20.7 million ($16.8 million), slightly narrower than the second-quarter result, and only a bit steeper than Q3 2020's CA$19.5 million ($15.8 million).
Source Fool.com
