This week was remarkable for the smaller cannabis stocks on my radar. While Hexo Corp. (NASDAQ:HEXO) had largely been written off, investors proved this week that they’ll happily accumulate the stock above $1.
That’s where the company managed to price a substantial 33-million-share offering. It’s not fantastic, but it demonstrates that this is where bargain hunters will emerge.
There is demand for HEXO at this level. And that should frighten the short sellers a little.
Likewise, relatively obscure GrowGeneration Corp. (NASDAQ: GRWG) reported record revenue and was rewarded. There’s no cannabis recession here, evidently.
And even little PharmaCielo Ltd. (OTC:PCLOF) is aggressively looking for additional acreage to satisfy global demand for its medicinal extracts. It is only $0.50 now but I see great things ahead.
