RE:"News moves the market"Some ideas:
1. The NRs from the previous months from HEXO about beverages saw the increases then to the SP that all we hoping for today. Already factored into the SP that we are seeing today, and have been seeing over the past couple of months.
2. NRs in this sector do not move the SP as much now, as some on this board would have you believe. They did in the early days. Today, it comes back to fundamentals that drive the SP. HEXO has not shown consistent increases to revenue etc..Yes the last quarter was better, but one quarter does not make a successful company - you need 4 to make a dollar. As such, HEXO to institutuional investors remains a HIGH RISK.
3. Given that the SP is below 1$US, many larger trading houses are forbidden to invest in the stock at this SP.
4. Delisting from the NYSE is only 3 months away and is scaring off investors.
5. A reverse split (RS) is still on the minds of many. They are normally not good for a SP - look at ACB 26$ to 12$. Almost 500 Million shares. More dilution may come. Management at the last call said a RSmight be used.
GLTA