Molson Coors Canada, the company has gained a significant foothold in the cannabis-infused beverage segment, which offers high growth potential. Meanwhile, the JV has also expanded its offering by introducing six new products earlier this month. Further, HEXO has launched value products at competitive price points and focuses on improving its distribution across Canada to drive its sales.
Meanwhile, the company is also looking at partnering with major CPG players to launch edible products, boosting its presence in the United States. Further, the acquisition of
Zenabis Global could position HEXO as one of the leading players in the Canadian recreational market while delivering $20 million savings through synergies. So, given its growth initiatives and expanding addressable market, I expect HEXO to provide superior returns in the long run.
By Reuters Staff
(Updates prices, adds details and sectors)
April 21 (Reuters) - Canada’s main stock index rose on Wednesday as a raft of upbeat corporate earnings lifted investor sentiment and expectations of a swift economic recovery, though lower oil prices capped further gains. At 9:50 a.m. ET (1350 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index was up 47.51 points, or 0.25%, at 19,087.41. Rogers Communications Inc gained 2.3% after the Canadian telecoms operator trumped first-quarter revenue estimates, buoyed by strong demand in its cable unit that provides internet and cloud-based services. Aiding sentiment, food retailer Metro Inc also beat analyst expectations at 62 cents per share, while revenue rose 5.1% to $3.33 billion from a year ago when analysts had expected $3.31 billion.
Image source: Getty Images
Amid hopes of demand recovery and economic expansion, the uptrend in Canadian equity markets has continued, with the
S&P/TSX Composite Index trading over 10% higher. Meanwhile, the following three companies have delivered over 20% returns this year, comfortably outperforming the broader equity markets. Let’s assess whether the momentum in these stocks can continue?
goeasy
Continuing on its impressive performance over the last five years,
goeasy (TSX:GSY) is trading close to 53% higher for this year. Its exceptional fourth-quarter performance and a robust management outlook for the next three years have led its stock price to rise. Amid higher operating leverage and lower credit losses, the company’s operating margins expanded by 7.3% to 35.4% in the fourth quarter. Its adjusted EPS grew by 55% year over year, while return-on-equity stood at 32.8%. Despite its stock price growth, the company’s forward price-to-earnings stan
Cannabis producer Hexo seeks $1 2B capital raise to fund expansion plans obj.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from obj.ca Daily Mail and Mail on Sunday newspapers.
Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
Hardly for the first time in its corporate life,
HEXO (NYSE:HEXO) is gearing up to raise some funds. The company announced on Thursday that it has filed regulatory paperwork stating that it aims to amass up to 1.2 billion Canadian dollars ($958 million) over the next 25 months. This can, and likely will, take different forms, including the issuance of stock, warrants, or the combination of the two known as units an increasingly common instrument of fund-raising issued by marijuana companies of late.