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Thursday, January 27, 2022

Hexo Corp (OTCMKTS:HYYDF) Flashing as an Undervalued Gem

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Hexo Corp (OTCMKTS:HYYDF) continues to be a stock on our everyday watchlist. The Quebec-centered cannabis operator is less well known than Aurora Cannabis or Cronos, but should have sales in that upper crust. With that in mind, HYYDF is undervalued and has serious aspirations to hit the NYSE this year. Already, traders have jumped on HEXO as being an undervalued stock as over the last month it has seen a 30% increase in price. One catalyst for this might be that HYYDF completed the first phase of its 1 million sq. Ft. greenhouse expansion, which is expected to strengthen its production capacity.

“Receiving initial licensing on our 1,000,000 sq. ft. facility is a huge accomplishment for the entire HEXO team. We are proud that the construction project is hitting all its milestones while respecting aggressive timelines and staying on budget. The new production facility allows us to continue to scale-up which, once fully operational, will give customers across Canada access to HEXO products,” said Sébastien St. Louis, HEXO Corp’s CEO and cofounder. “Our team has been hard at work for the past couple of months nurturing new mother plants and preparing cuttings. We will start moving plants into the new facility with the pre-prepared mother plants and cuttings in alignment with our continuous harvest methodology.”

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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HYYDF is rallying now and analysts are watching as it approaches the $5.50 handle. Many cannabis investors are seeing the recent greenhouse expansion and its 108,000 kg increase in production capacity as a real “buy” signal. Furthermore, any news from their venture with Molson Coors could continue to boost this run.

Carrying a market cap of $918M, HYYDF is pulling in trailing 12-month revenues of $9.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 414.1%. We think there is a lot to like here about this stock and we will be following it closely. 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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