RE:RE:RE:RE:RE:RE:Hexo with a $.50 cad gain todayMukulu20 wrote: The stock came down from $14 to $6 over a period of six month and then from $ 6 to $3 in the last two months losing almost 75% of value of the stock and hurting and maginifing losses who were averaging down up until brutal crash from $4.10 last Friday. What is fake about this comment?
These believers are in their own little world. They don't care about facts and realistic POV. They even think that the CEO is good. As I often said, it is easy to build a company, building facilities, over produce cannabis, and making acquisition with the public money. This is why I think Redecan is well run. Since I don't have the financials of this private company, it is hard to estimate the deal, but HEXO must have paid a stiff price, $400 millions in cash being a clue. quinlash should add realistic facts to his list like the Newstrike horrific deal.
It is not hard to see that the pie of customers in Canada is not big enough, and there is too much competition. Of couse, the people that don't lose money are the bashers, the paid bashers, the shorters and all the bla bla bla. Fact is that I don't lose money while they lost a lot, and I mean a lot in many ten thousands, since they pretend to buy the Hexo as it goes down. This is uber BS, or these people have some mental problems.
Hexo Corp. completed the sale of the Niagara, Ontario-based cultivation facility it acquired as part of a 263 million Canadian dollar ($193 million) deal to buy Newstrike Brands last year.
The sale of the greenhouse to an undisclosed buyer fetched approximately CA$10.25 million.
Cultivation was suspended at the Niagara facility in late 2019 as part of a corporate downsizing push. The decision to sell the facility was made in early March, according to Hexo.
A news release attributed the decision to “an excess of cultivation capacity in the market and estimated forecast demand for cannabis products, as result of slower than expected market development.”
Hexo’s Canadian peers have also been abandoning costly cannabis greenhouses in recent months:
Hexo plans to put the proceeds from the sale towards expanding its facility in Belleville, Ontario, “and for working capital and other general corporate purposes.”
Hexo recently posted a second-quarter net loss of CA$298.2 million.