HEXO: Sell Into Big Rally (Rating Downgrade)
- HEXO has seen a massive rally this year following the stock price collapsing in December during a reverse split.
- The Canadian cannabis company has cut the adjusted EBITDA losses, but the company faces deteriorating sales due to the reduced spending levels.
- The stock has a minimal market value of $70 million, but the large convertible debt level makes the stock a Sell into the rally.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
HEXO () has been on a hot streak since the stock collapsed following a reverse split in December. The Canadian cannabis company has substantially cut costs leading to a major dip in revenues in the last few quarters. My investment thesis
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