Hexo Boss Blames Losses On Craft Cannabis Surprising Them & Planting Wrong Strains In Investor Call

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We could not replace our strains that were now out of inventory with better or like-quality (strains),” St. Net revenue for the three months ended April 30 was CA$22.7 million, 31% lower than the previous quarter, and about one-third lower than analysts’ predictions. “Craft has absolutely surprised us,” St. Louis said on a conference call with analysts, citing cultivation decisions made by the company and production issues relating to hash. Canadian cannabis producer Hexo Corp. lost almost 21 million Canadian dollars ($17.3 million) in its third quarter on revenue that came in substantially lower than expected, in part, because of increasing competition from craft marijuana companies. Read the full analysis of the investor call here.. https://mjbizdaily.com/craft-absolutely-surprised-us-hexo-ceo-says-as-cannabis-sales-plunge/?utm_medium=email&utm_source=newsletter&utm_campaign=MJD_20210614_NEWS_Daily

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MJ Biz reports….

Canadian cannabis producer Hexo Corp. lost almost 21 million Canadian dollars ($17.3 million) in its third quarter on revenue that came in substantially lower than expected, in part, because of increasing competition from craft marijuana companies.

Net revenue for the three months ended April 30 was CA$22.7 million, 31% lower than the previous quarter, and about one-third lower than analysts’ predictions.

“Craft...

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