Hexo's shareholder urges cannabis company to consider sale: Reuters
Hexo Corp’s second-largest shareholder urged the cannabis producer to consider strategic options including a sale, saying its stock was undervalued, Reuters reported. Riposte Capital LLC, which has a 2.5 percent stake in the company, said Hexo needs to step up efforts to lower the cost of capital to take advantage of the growth in Canada’s cannabis sector. The New York-based hedge fund investor said Hexo’s market capitalization of about $1 billion was significantly below the US$23 billion market cap of rival Canopy Growth Corp, the only other company with an alcohol partnership.
6 September 2018•1 min read
