This past year has been a tough one for HEXO (NYSE: HEXO) shareholders. The pot stock is down more than 40% even though the Horizons Marijuana Life Sciences ETF (OTC: HMLSF) has been fairly stable, falling a relatively modest 4%. The company recently completed a reverse 4-for-1 stock split to stay above the $1 mark and remain compliant with NYSE listing requirements.
HEXO has reported a loss in each of the past four quarters and is coming off an abysmal fiscal year that was full of writedowns, impairment charges, and other ugly expenses. It’s a challenging time for the company, and for it to bounce back in 2021, a lot will have to go right. Here are two key things that need to happen for HEXO stock to rally.