(Inverted Chart) My trade thesis for Hexo hasn't changed at all since my last post. As the US moves towards legalization the beat up cannabis sector will see a nice bounce as a whole. One of the most beaten up of the group is Hexo, which is Canada's market leader in adult-use sales. The fundamentals have only continued to improve under new leadership, meanwhile the stock price has dropped by over 90% since the previous highs. Take advantage of this mispricing while the opportunity is present. The market will reward the patient, average down and enjoy the ride to legalization.
Entry: $.67
Target 1: $1.50
Target 2: $3.00
Target 3: $5.00
Entry: $.67
Target 1: $1.50
Target 2: $3.00
Target 3: $5.00