Cannabis Watch: Hexo shares a bright spot in weak cannabis sector as revenue jumps in latest quarter

Hexo Corp. shares were a bright spot in a lackluster cannabis sector Thursday, after the Canadian company posted results for its latest quarter, showing a narrower loss and big jump in revenue as the legal adult-use market in Canada kicked off.

Quebec-based Hexo’s U.S.-listed shares HEXO, +3.13% rose 2.2%, while its Toronto Stock Exchange-listed shares HEXO, +4.21% rose about 3.6%, as most of its rivals fell.

The company said it had a net loss of C$4.33 million ($3.25 million) in its fiscal second quarter to Jan. 31, narrower than the C$8.95 million loss posted in the year-earlier period.

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