HEXO: Trending Up
HEXO Corp. is playing several favorable trends that should lead the cannabis stock to rally further in the next few months.
The uplisting to the NYSE American stock exchange is a major catalyst that is still playing out.
The Newstrike Brands deal gives the company the scale needed to attract more institutional investors.
The stock is cheap on a P/S ratio in comparison to industry peers.
The market loves the growth offered by the cannabis sector, and HEXO Corp.(HEXO) is the next company to offer that expansion profile that the market eats up. The combination of an uplisting to a major U.S. stock exchange and a large merger positions the stock for a big breakout to new highs, typical of the sector.
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