September 6, 2018 / 2:46 PM / 15 days ago

BUZZ-Hexo Corp: Riposte Capital urges co to seek strategic options

(Updates)

** Shares of medical marijuana producer up as much as 8.1 percent to a record high of C$6.37 on shareholder activism

** Stock set for fourth straight session of gains

** Riposte Capital, second-largest holder, plans to urge the company to explore strategic options, including a sale, saying its stock is undervalued

** Riposte, which has a 2.5 pct stake in co, says Hexo needs to step up efforts to lower the cost of capital to take advantage of the growth in Canada’s cannabis sector

** All 7 brokerages covering the stock rate it “buy” or higher

** HEXO has market cap of C$1.14 bln up to Wednesday’s closing price

** Stock has climbed 52 pct, including session gains (Reporting by Medha Singh in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below