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Will International Expansion Drive the Next Hexo Corp (OTCMKTS:HYYDF) Breakout?

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As the cannabis theme continues to build out and differentiate itself, shares of Hexo Corp (OTCMKTS:HYYDF) continue to look more and more interesting. Following the company’s recent deal with Molson Coors Brewing Company (NYSE:TAP) to kickstart the cannabis beverage space, shares broke out of their prior trading range. That move may be preparing to extend following the company’s most recent announcement that it plans to establish a Eurozone processing, production and distribution center in Greece.

According to the release, “The partnership with Greek company Qannabos (“QNBS”) will catalyze a vertically integrated cannabis enterprise to capitalize on the current medical markets. HEXO’s plan to establish operations in Greece marks the Company’s first foray into the European cannabis market. The move will provide the company presence in Europe to supply a full suite of brands in France, the United Kingdom, and other European markets once regulations permit.”

Hexo Corp (OTCMKTS:HYYDF) trumpets itself as a company that, together with its subsidiaries, produces and distributes medical marijuana products. The company is headquartered in Gatineau, Canada, and, as noted above, just changed its corporate name from “The Hydropothecary Corporation” to “HEXO Corp.” effective August 29, 2018.

HEXO creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market.

The Company currently operates with over 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year-end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.

According to company materials, “HEXO Corp. creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. One of the country’s lowest-cost producers, HEXO is rapidly increasing its production capacity in the lead up to the adult-use cannabis market. The Company currently operates with over 310,000 sq. ft. of production capacity with construction on another 1,000,000 sq. ft. expansion set to be complete by year end. HEXO will serve the adult-use market under the HEXO brand, while continuing to serve its medical cannabis clients through the well-known Hydropothecary brand.“

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As noted above, the HYYDF just announced that it plans to establish a Eurozone processing, production and distribution center in Greece. Traders will note 22% added to share values of the listing over the past month of action. Furthermore, the name has seen interest climb, with an increase in recent trading volume of just shy of 350% above the average volume levels in play in this stock over the longer term.

“I’m excited to add European distribution capabilities for HEXO and its joint venture partners,” said Sebastien St-Louis, HEXO Corp.’s CEO and co-founder.

“By bringing brands powered by HEXO, our infrastructure and our know-how to Europe, we will be well prepared to serve a burgeoning market. This new capability will allow us to bring even more value to our hub and spoke partners in the beverage, cosmetics, and food space by giving them access to licensed cannabis infrastructure and brands in Europe. Additionally, HEXO believes that we will quickly be able to leverage our joint venture partners’ networks to take significant first-mover advantage and market share.”

Now commanding a market cap of $1.24B, HYYDF has a significant war chest ($248.9M) of cash on the books, which compares with about $9.8M in total current liabilities. HYYDF is pulling in trailing 12-month revenues of $4.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 4.9%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $HYYDF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $HYYDF, either long or short, and we have not been compensated for this article.

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