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RE:RE:From Motley fool - This is not 100% true

[YesSetForLife]

quebec4ever wrote:

YesSetForLife wrote: HEXO Topping the list of marijuana stocks that investors would be wise to avoid this month is Quebec-basedHEXO(NYSE:HEXO). At one time, HEXO looked as if it had a winning formula. The company had a signed five-year agreement with its home province of Quebec to supply 200,000 kilos (in aggregate) of cannabis for the adult-use market, and was ramping up capacity and derivative production (i.e., non-flower products, such as edibles) to meet an expected surge in Canadian demand. But, as noted, supply bottlenecks wrecked this vision. Today, HEXO is scrambling to reduce its operating costs and bring its output potential in-line with demand. This has involvedshutteringand selling off the Niagara grow farm that was acquired via the Newstrike Brands acquisition in 2019, as well as idling some of its grow space at the flagship Gatineau facility. HEXO's also had little choice but to lay off some of its workers to reduce costs. Beyond just backpedaling to right the ship, HEXO's cash balance is a bit of a concern. In June, HEXO announced a $34.5 million Canadian at-the-market stock offering, which comes after multiple rounds of stock issuances and convertible debt offerings. This is a roundabout way of saying that shoring up the company's balance sheet has involveddrowning existing shareholders with new stock. This is unlikely to end anytime soon. And let's not forget that HEXO is playing with fire by having a share price that's consistently been below $1 for almost the entirety of the past four months. Without a reverse split, HEXO appearsdestined to be delisted from the New York Stock Exchange. These are all good reasons to steer clear for now.

Read the bottom where it say s Motley Fool recommends Hexo.

If you can only read the last sentence they say exactly the opposite of you. I'm drinking a mollo 5 tonight and it taste great