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Hexo (NASDAQ: HEXO ) stock is on the rise Friday thanks to investors taking interest in the company again as it reveals plans for an upcoming meeting. Hexo is preparing for its annual meeting of shareholders on Jan 31.
Cannabis stocks are falling today on news that new regulation may be looming in 2023. Recent reports indicate the Food and Drug Administration (FDA) is planning a review of hemp-derived products including cannabidiol (CBD).
Hexo (NASDAQ: HEXO ) stock is trending on social media after the company announced that it would carry out a “consolidation” of its shares that are listed in New York and of its stock that trades in Canada. The announcement, made on Dec. 14, came the day before the Canada-based cannabis seller announced its quarterly financial results.
HEXO (HEXO) delivered earnings and revenue surprises of -250% and 19.23%, respectively, for the quarter ended October 2022. Do the numbers hold clues to what lies ahead for the stock?
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Molson Coors Beverage Co. TAP, +0.51% said it's exiting its roughly two-year-old Truss CBD USA beverage joint venture with Hexo Corp. HEXO, -1.29% at the end of the year. "While we entered this business in a smart way, it's going to be very difficult to scale in the short term, making the path to profitability a challenge," a Molson Coors spokesperson said Friday in an email to MarketWatch.
Management is particularly excited about one key asset.
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