Investors in cannabis stocks are remaining alert as shares of various stocks in the field have been seeing heavy trading over the last few weeks. That’s also true of Canadian cannabis-producing company Hexo (NYSE:HEXO), which has been on a wild ride Tuesday.
Starting off, HEXO stock got a massive boost in early trading today. That came alongside heavy trading of the stock. As of this writing, some 102.17 million shares had changed hands. For comparison, its daily average trading volume is only 5.71 million shares.
Cannabis stocks investors that are eyeing HEXO on the news alert of its movements today will want to note that the company is preparing for a reverse stock split. This has it planning to consolidate down eight shares of the stock into a single share.
So, is HEXO stock worth investing in? Let’s see what InvestorPlace’s own writers have to say about the cannabis stock.
The Bull Argument for HEXO
- Why I Feel Investors Should Go Long With Hexo Stock
- As Canadian Cannabis Finds Its Feet, HEXO Stock Has Room to Run
- For Hexo Stock, In God We Truss Might Be Its Best Bet
- Hexo May See the New Normal as a Blessing in Disguise
The Bear Argument Against HEXO
- Hexo Has to Show That This Time Is Different
- Hexo Stock Is a Losing Bet So Investors Should Short It
- Reverse Split Doesn’t Bode Well for Cannabis Crasher Hexo
HEXO stock was down 4.5% as of noon Tuesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
