The Canadian cannabis company HEXO (HEXO) got beat up last year and at one point plummeted to well under a $500M market cap. After performing a reverse split, tightening up operations and forging ahead on their mission of becoming one of Canada’s top cannabis companies, they announced this morning a positive adjusted EBITDA and that revenue is up 94% for the prior year quarter. Their JV with Molson Coors for beverages looks to be going well and the proposed deal to acquire Zenabis Global would suddenly thrust them firmly into being a top player in the industry, bolstering their number one status in the province of Quebec. Plus with their current market cap still being just shy of $1B they are a great value.
“As soon as you stop having fun at this game, it’s time to get out.” –Dave Hanson, of Slap Shot fame