Why Did Hexo Stock Drop 10% on Tuesday? | 電影影評網
![Why Did Hexo Stock Drop 10% on Tuesday?](https://i.imgur.com/FK6P5g9.jpg)
2022年1月19日—Amongcannabisstocks,Hexo(TSX:HEXO)(NASDAQ:HEXO)maytopthelistasbiggestloserof2021andperhapseven2022withthewayit'sgoing.
![Why Did Hexo Stock Drop 10% on Tuesday?](https://i.imgur.com/FK6P5g9.jpg)
Written by Amy Legate-Wolfe[1] at The Motley Fool Canada
There’s really only one word that can describe what happened to Hexo (TSX:HEXO)[2](NASDAQ:HEXO)[3] on Tuesday: ouch. Shares fell to 52-week lows at $0.73 per share, down 10% at its lowest point.
What happened?The small-cap stock continued to drop since announcing its losses[4] late last year and even since appointing a new chief financial officer at the beginning of 2022. Hexo announced a loss of $116.9 million in the first quarter, along with a “new strategic plan” to reduce costs and create synergies.
That loss was a whopping 2,683% increase from the same time the year before, ahead of an overhaul of operations. It was the nail in the c...
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