(This story is part of MJBizDaily’s premium subscription service, Investor Intelligence.)
Days after Hexo’s CFO resigned, the marijuana company announced a huge miss to fiscal fourth-quarter revenue and withdrew its 2020 revenue guidance.
The stock has fallen roughly 29% on the news.
The stock move isn’t a surprise; this was a massive miss.
Management expects this quarter’s revenue to be at CA$14.5 million-CA$16.5 million versus their previous guidance of about CA$26 million.
Read more about what’s behind the rash of negative news and how it will impact Hexo at Investor Intelligence.
Written by Jenel Stelton-Holtmeier
Marijuana Business Daily