Saturday 26 September 2020

Hexo Corp (HEXO) runs the risk of being de-listed by the NYSE

Investors are waiting to see if HEXO will remain on the NYSE. Hexo Corp (HEXO) certainly runs the risk of being de-listed by the NYSE. Hexo Corp (HEXO) has had a difficult time over the last few years. The stock’s price is low. It is under $1.00 a share and runs the risk of being de-listed by the NYSE.

HEXO Corp. has seen slower rollouts of retail stores in Canada and a delay in approval for derivative products. This has resulted in an unfortunate year to date loss of 55% so far. Over the summer, HEXO sold its facility in Niagara, Ontario due to an excess of capacity and lowered demand. And, there is more bad news - the company has received a delisting notice from the NYSE.

A minimum requirement for a company to remain listed on the NYSE is a share price of $1.00 USD. If the company fails to maintain this price, it will be notified about a potential delisting. The company would then need to provide a plan of action to regain compliance or they can simply move forward with the delisting. HEXO has until December 16th to regain compliance.

There are some good news for the company this year. Its net revenue grew 30% in its fiscal 2020 third quarter. The firm forecasts positive adjusted EBITDA in the first half of fiscal 2021 depending on the growth of its retail stores. Hexo wants to get more Hexo market share. Hexo wants to increase its Hexo stock price as much as possible.

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).

Here are some HEXO Subsidiaries:

Newstrike Brands Ltd.
Truss LP
Keystone Isolation Technologies Inc
167151 Canada Inc

Hexo stock definitely needs to improve itself. Hexo has a low hexo stock price that should increase in the future. Follow hexo corp, hexo news and hexo stock forecast. Nyse hexo is struggling. Keep yourself updated on Hexo stock news. Hexo corp stock has much room for improvement. Keep an eye on hexo earnings. Keep an eye on the hexo stock price today. Watch hexo stock tsx and hexo stock nyse.

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