(This story is a part of MJBizDaily’s premium subscription service, Investor Intelligence.)
Days after Hexo’s CFO resigned, the marijuana firm introduced an enormous miss to fiscal fourth-quarter income and withdrew its 2020 income steering.
The inventory has fallen roughly 29% on the information.
The inventory transfer isn’t a shock; this was a large miss.
Administration expects this quarter’s income to be at CA$14.5 million-CA$16.5 million versus their earlier steering of about CA$26 million.
Learn extra about what’s behind the rash of damaging information and the way it will impression Hexo at Investor Intelligence.