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HEXO’s shares have declined 14.5% in price over the past month and 61.5% over the past three months to close yesterday’s trading session at $1.65, after hitting its all-time low of $1.60.
Scott Cooper was appointed as the company’s new President & CEO on October 20 after its former co-founded, CEO Sebastien St-Louis, left due to a ‘strategic reorganization.’ Also, HEXO has remained unprofitable in the third quarter, and its EPS is expected to remain negative in its fiscal fourth quarter (ended July 31, 2021). So, HEXO’s near-term prospects look bleak.
