Canadian cannabis producer and seller Hexo (NYSE:HEXO) isn’t the biggest or most famous competitor in the sector. Moreover, Hexo stock doesn’t have the highest volume of all cannabis stocks. On the other hand, the shares are easily affordable.
Indeed, I suspect that its low price point is what makes Hexo stock attractive to some traders. I fully understand the appeal because not every investor has a large-sized account that can accommodate more expensive stocks.
In December of last year, I covered Hexo stock for InvestorPlace. At the time, I warned, “With [the] Hexo stock price at $2.225, the shares might seem like a steal … but I don’t want the market to steal investors’ hard-earned capital.”
So, does “cheaper” mean “better” in the world of cannabis stocks? Let’s check up on Hexo stock to see how the shareholders have fared since my late-2019 warning. Then, we can decide whether Hexo shares are a bargain today, or just dead…