Posted in Cannabis Stocks

Cannabis Stocks Alert: Is HEXO Stock a Buy?

 Posted by  Posted on December 1, 2020

a bowl of food: Image of cannabis on top of dollar bills © Source: Shutterstock Image of cannabis on top of dollar bills

Investors in cannabis stocks are remaining alert as shares of various stocks in the field have been seeing heavy trading over the last few weeks. That’s also true of Canadian cannabis-producing company Hexo (NYSE:HEXO), which has been on a wild ride Tuesday.

Image of cannabis on top of dollar bills © Provided by InvestorPlace Image of cannabis on top of dollar bills

Starting off, HEXO stock got a massive boost in early trading today. That came alongside heavy trading of the stock. As of this writing, some 102.17 million shares had changed hands. For comparison, its daily average trading volume is only 5.71 million shares.

Cannabis stocks investors that are eyeing HEXO on the news alert of its movements today will want to note that the company is preparing for a reverse stock split. This has it planning to consolidate down eight shares of the stock into a single share.

Gallery: 4 Dividend Stocks With Yields Over 5% (InvestorPlace)

a close up of a green screen: It's been a volatile year for investors in general. And nowhere has that been more true than in high yield dividend stocks. In March and April, there was a massive number of companies that slashed or entirely suspended their dividends. This year has been a period of devastation for income-focused investors, particularly in sectors like real estate investment trusts (REITs). And while things have gotten better since this spring, we're still seeing more dividend cuts and profit warnings even now. That makes stock selection of the utmost importance. So, which current high-yield dividend stocks will be able to make it through the current downturn and come out stronger on the other side? 7 Augmented Reality Stocks To Buy Now For The Future When looking for dividends of 5% a year or greater, you're going to have to sort through a lot of value traps and low-quality companies. Fortunately, though, these seven companies have what it to takes to prosper as the economy comes back to life. Here are seven high yield companies to invest in now: Kraft Heinz (NASDAQ:KHC) Enbridge (NYSE:ENB) Altria (NYSE:MO) Boston Properties (NYSE:BXP) Omnicom (NYSE:OMC) Valero Energy (NYSE:VLO) People's United Financial (NASDAQ:PBCT)

So, is HEXO stock worth investing in? Let’s see what InvestorPlace’s own writers have to say about the cannabis stock.

The Bull Argument for HEXO

The Bear Argument Against HEXO

HEXO stock was down 4.5% as of noon Tuesday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Author: CSN