Company: Hexo Corp
Ticker Code: HEXO
Company Founded Date: 2013 originally incorporated as The Hydropothecary Corporation – changed name in 2018 to Hexo Corp
High & Date: $7.81 on 4/26/2020
Significant Events (HIGH): HEXO
Low & Date: $0.36 on 3/18/2020
Significant Events (LOW): COVID onset March 2020 was the likeliest culprit to this extreme low price.
Products: Packaged flower, oils and vape pens
Upcoming Events: Nothing found as of 10/14/2020. Will update when new information is available.
Additional Info: Hexo is a Canadian company. They do not sell products outside of Canada. Their stock however is available on the NYSE and on apps like Robinhood. They’re closing in on 10 years of business and they have a solid product line. The product line could be larger but right now they’re limited to their three main types of products: flower, oils & pens/cartridges.
As cannabis is already both medicinally and recreationally available in Canada, you might assume that their product line will continue to grow, but as of now I have not found any articles that mention new products or growth. I don’t want to blame everything on COVID, but it could be a main culprit at this point. If I find articles regarding growth or expansion of the product line, I will update this portion.
In Review: In late 2019 I bought into HEXO as it started dipping under the $3’s and $2’s hoping that the $1.50 price would rise back up. It continued to drop slowly but steadily and then when COVID hit in March 2020….it dipped under $1 and has struggled to come back from that. If you buy now, while it’s under $1, and it reaches it’s pre-COVID numbers…you’ll be doing yourself a solid. You’re going to have to be patient with this one, it’s not going to happen overnight. But if you’re looking to double your money in time…I think this might be a safe bet at it’s current (10/14/2020) $0.77 per share price.
