Why Hexo Stock Dropped 7% Today

Marijuana stocks are in trouble Friday, as shares of Canadian cannabis company Hexo (NASDAQ: HEXO) tumbled 7% by 11 a.m. EDT after it reported yet another money-losing quarter.

The bad news at Hexo helped pull down shares of peer cannabis companies both larger and smaller, as Green Thumb Industries (OTC: GTBIF) fell 3.5% and Charlotte's Web Holdings (OTC: CWBHF) dropped 2.3%.

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Source Fool.com