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    HEXO   CA4283043079

HEXO CORP.

(HEXO)
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Summer high: Molson Coors' JV Truss launches 6 pot-infused drinks in Canada

04/14/2021 | 04:11pm EDT

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(Reuters) - Miller Lite beer-maker Molson Coors Beverage Co's cannabis joint venture Truss Beverage Co on Wednesday launched six pot-infused beverages in Canada, as it hopes that summer demand will offset recent sales hits from COVID-19 lockdowns.

Coronavirus restrictions in major provinces including Ontario have forced weed stores to shut for extended periods, and are expected to hit cannabis companies' results for the March quarter.

The summer season, which tends to represent peak demand for beverages, will be crucial for companies to undo the damage.

Truss, jointly run by Canadian pot producer Hexo Corp, launched five CBD-infused beverage brands in August last year and claims to have already won a 43% market share in the category in Canada. (https://bit.ly/3wThh2D)

"Summer ... is the biggest opportunity for the beverage category; it is the inflection point for consumers to try out our products," Truss Beverage's Chief Executive Scott Cooper told Reuters in an interview.

"Cannabis-infused beverages are still new and tend to be an impulsive purchase, so having the store open is important to the trial and awareness of the category," he added.

Truss said its latest beverage line included watermelon, lemonade, sparkling tonic and honey green iced tea flavors, and are expected to be rolled out to retailers over the next few months.

(Reporting by Rithika Krishna and Shariq Khan in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HEXO CORP. 4.08% 7.39 Delayed Quote.58.24%
MOLSON COORS CANADA INC. -1.74% 70.55 Delayed Quote.22.38%
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Financials
Sales 2021 136 M 112 M 112 M
Net income 2021 -37,9 M -31,3 M -31,3 M
Net cash 2021 147 M 121 M 121 M
P/E ratio 2021 -26,6x
Yield 2021 -
Capitalization 911 M 753 M 753 M
EV / Sales 2021 5,62x
Capi. / Sales 2022 5,02x
Nbr of Employees -
Free-Float 94,8%
Chart HEXO CORP.
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HEXO Corp. Technical Analysis Chart | MarketScreener
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Technical analysis trends HEXO CORP.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 9,66 CAD
Last Close Price 7,39 CAD
Spread / Highest target 89,4%
Spread / Average Target 30,8%
Spread / Lowest Target -39,1%
EPS Revisions
Managers and Directors
NameTitle
SÚbastien St. Louis President, Chief Executive Officer & Director
Trent MacDonald Chief Financial Officer
Michael Munzar Chairman & Medical Director
Donald J. Courtney Chief Operating Officer
Jason G. Ewart Independent Director
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