For every $1,000 a 'long' pumptard bought on March 18/20would have $127.00 today.
7 analysts covering the stock have a price target of .19 cents (USD)
and if the Republicans take a House or two.......
Good times for Hexo longs.
HEXO shares have been drifting steadily lower since February 2021. HEXO announced yet another $40-million stock offering in May 2022. To make matters worse, Republicans appear poised to recapture at least one of the two houses of Congress in the November election, potentially closing the window of opportunity for federal U.S. cannabis legalization. At this point, HEXO shares have traded all the way down to 18 cents, opening up the possibility of a potential Nasdaq delisting or another reverse stock split.
At this point, investors who bought HEXO on the day it hit its pandemic low and held on have generated a negative overall return on their investment. In fact, $1,000 in HEXO stock bought on March 18, 2020, would be worth about $127 today.
Looking ahead, analysts aren't expecting HEXO stock to rebound much in the next 12 months. The average price target among the seven analysts covering the stock is 19 cents, suggesting 4.7% upside from current levels.