Weed stocks plummet after Canadian cannabis company Hexo withdraws its profit guidance for 2020
|10/10/2019||Posted by BusinessMediaguide.Com under General World News||
- 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.
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Weed stocks are not going high today.