HEXO stock is down over 20% on Thursday after HEXO Corp (TSX:HEXO) (NYSE:HEXO) released its preliminary fourth quarter and fiscal 2019 results.
HEXO Halves Expected RevenueHEXO Corp says it expects to post net revenue for its fiscal Q4 ended July 31 to be approximately $14.5 million CAD to $16.5 million CAD, a steep cut from the expected figure of $26 million CAD, and net revenue for the fiscal year to be $46.5 million USD to $48.5 million USD. The company’s CEO and founder, Sebastien St-Louis, blamed lower than expected product sell-through on the disappointing returns ...
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