HEXO Corp is a consumer packaged goods cannabis company that creates and distributes products to serve the global cannabis market. HEXO Corp is partnering with some Fortune 500 companies as it brings its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies. This leverages their distribution networks and capacity.
HEXO Corp is one of the largest licensed cannabis companies in Canada. The company operates with 2 million sq. ft of facilities in Ontario and Quebec. There is also a location in Greece to establish a Eurozone processing, production and distribution center.
The company was incorporated in 2013 under the name of The Hydropothecary Corporation. The company serves the needs of the Canadian medical cannabis market. With the creation of the legalized market in 2018, the company became HEXO Corp, for both recreational and medical markets.
The name is not to be confused with hex (noun) (evil spell or curse).
HEXO Corp stock has rebounded over 45% over the past week. The cannabis sector is experiencing a sort of recovery. HEXO Corp is listed as (TSX:HEXO) and (NYSE:HEXO). Over the past few months, the stock prices of many cannabis companies fell to new lows. HEXO price fell by as much as 72% from this year's peak. Over the past couple of weeks, the stock is doing well.
At its height, HEXO Corp had a valuation of $1 billion. After the changes in the stock price, it is currently valued at $785 million. In 2020, the company expects to have sales of $100 million. Next year, the company expects to go up to $250 million.
HEXO is not tied up with only one or two partners. It has much more. This could be the key to its future success.
Canada has some issues to deal with like the shortage of cannabis dispensaries.