Cannabis stocks have been in a brutal bear market since 2018. Among the worst performing ones during this time has been Hexo (NYSE:HEXO). Suffice it to say that loyal shareholders haven’t been rewarded for standing by Hexo stock.
Don’t get me wrong. I like a bargain as much as anyone. Plus, I’m still a believer in the cannabis industry on a long-term basis. There are some beaten-down stocks in the sector that I might actually recommend.
Hexo stock isn’t one that I would buy on the dip, however. Informed investors must understand the difference between buying when there’s blood on the streets (to loosely quote Warren Buffett) and trying to catch a falling knife.
If you need evidence to show that Hexo is having real problems, keep reading. Indeed, there’s one recent development that should convince any Hexo holdouts to immediately abandon ship.
A Closer Look at Hexo Stock
Whereas many pot stocks peaked during the hype-fueled days of 2018,…