Hexo Lights Up on Narrower Quarterly Loss

M. Corey Goldman - finance.yahoo.com Posted 5 years ago

Hexo stock gained close to 10% in premarket trading in New York and Toronto on Thursday, rising 55 cents to $6.50 on the Nasdaq Stock Exchange and gaining 43 cents to C$7.83 on the Toronto Stock Exchange. Revenue rose to C$13.4 million from C$1.2 million in the first complete quarter since Canada legalized marijuana on Oct. 17, 2018. Hexo said in a statement that it is prepping for the initial harvest from its new 1-million-square-foot greenhouse facility and activating its "product transformation" facilities in Belleville, Ontario, both of which should boost revenue through its fiscal fourth quarter.

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