HEXO Corp (TSX:HEXO) (OTC:HYYDF) has positioned itself to be one of the top cannabis stocks in 2019. The last 30 days have been positive for HEXO stock, and today, the good news keeps coming. HEXO has received its NYSE listing!
Today, we'll take a closer look at what the cannabis company has in store for 2019 and HEXO stock movement.
HEXO NYSE Listing
This morning, HEXO announced that it has been approved to start trading on the New York Stock Exchange (NYSE). HEXO stock will begin trading on the major US exchange on January 23rd, 2019, under the HEXO ticker.
Currently, HEXO stock is trading on the OTC Pink Exchange under the 'HYYDF' ticker and, after the NYSE listing, the company will cease the exchange of its shares there. HEXO will continue to trade on the Toronto Stock Exchange (also under HEXO).
In addition to the NYSE trading announcement, HEXO recently held its general annual meeting. During the meeting, various directors were re-elected back into the company and the company's CEO, Sebastien St-Louis, announced a new CFO transition plan with the company's current CFO, Ed Chaplin.
"Under Ed’s leadership, we built an exceptionally robust financial function which has enabled us to hit key significant milestones and to grow HEXO Corp. according to our vision. Ed was instrumental in making our initial public offering a reality. On our first day of trading, our company was valued at approximately $127.9M. Today, we are valued at over $1.2B,” said St-Louis.
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He continued:
“Ed has been a valued and trusted advisor throughout his time at HEXO and has worked tirelessly to support me and the entire team during his tenure. I want to take this opportunity to thank him for his dedication and professionalism.”
HEXO Stock Movement
According to Yahoo Finance, HEXO is currently trading on the TSX at $6.34 a share, up +$0.14 (+2.26%). On the OTC, HYYDF is trading at $4.74 a share, up +$0.07 (+1.66%).
HEXO Corp, through its subsidiaries, produces, markets, and retails cannabis in Canada. The cannabis company offers its products under the HEXO and Hydropothecary brand names. HEXO is headquartered in Gatineau, Quebec.
Do you think the NYSE listing will help HEXO stock?
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