General World News

Weed stocks plummet after Canadian cannabis company Hexo withdraws its profit guidance for 2020

FILE - This Nov. 27, 2015 file photo shows two marijuana buds displayed for a customer in Denver. A government report released on Tuesday, June 17, 2019 shows that pot use in pregnancy has doubled among U.S. women and is most common during the first trimester. (AP Photo/David Zalubowski, File)

  • Weed stocks fell on Thursday after Hexo, a Canadian cannabis company, withdrew its full-year revenue guidance at an investor event Thursday, citing market uncertainty.
  • Shares of Hexo fell as much as 26% on the news. The stocks of Tilray, Aurora Cannabis, Canopy Growth, and Cronos also slipped.
  • The weed industry is facing increased uncertainty and the environment will likely continue to be difficult, according to W. Andrew Carter, an analyst at Stifel.
  • Sign up here to get our cannabis newsletter Cultivated in your inbox every Friday.

Weed stocks are not going high today.

Shares of Tilray, <a target="_blank" read more >>>

Source:: BusinessInsider.Com