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$HEXO Looking To Break Out Of The Downtrend

Long
NYSE:HEXO   None
$HEXO is bumping up against the long-term downtrend line since last May. We believe that the cannabis bear market from 2019 is over and we are witnessing names like $CGC seeing a nice bounce off the bottom. $HEXO is one that could really get going considering its low share price and 12.68% of the float being short.

HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. The Company serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis.

As always, trade with caution and use protective stops.

Good luck to all!
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