HEXO posts loss of $56 million, driven by $17 million write-down on cannabis inventory

HEXO posts loss of $56 million, driven by $17 million write-down on cannabis inventory.
Last week, the company laid off 200 employees and suspended cultivation at its Niagara facility and a portion of its Gatineau facility.

Oh what a surprise, I said in the beginning that these guys along with all the other lps were idiots for thinking they could just scale up to become profitable. More facility closures to come and more buildings will sit idol and be sold. If the following picture doesn't scare the shit out of all the LP's i dont know what will!! Look at these numbers! There not even bothering to process their weed anymore because it aint selling!! SO much for that supposed shortage!! We all knew it was bullshit anyway tho.

For a good laugh look at the numbers on the health canada website.. https://www.canada.ca/en/health-canada/services/drugs-medication/cannabis/licensed-producers/market-data/supply-demand.html
~Total inventory of dried cannabis (finished and unfinished) held by cultivators, processors, distributors and retailers stood at 389,059 kilograms at the end of August – 30.1 times total sales in that month(12,917Kgs). Cannabis oil inventories totalled 155,128 litres – 13.3 times total sales.

Sounds like some are not understanding it. Field of dreams was JUST a movie. Grow it and they will come, nope, not working is it

Make a nice bonfire that we could all sit around and smoke some decent weed by. Feels good to stick it to an industry that was born from a disgusting motive.
Keep on Boycotting as we say. I'll never support anything they do when it come to cannabis EVER! My turn to do the fucking.

No sales are...................... NO sales after all..

TOAD YA SO>.


The little green plant that WILL SHOW YOU THE DOOR!

Do these idiots not realize the majority of cannabis smokers will only buy tiny amounts for the weekend or smoke a joint over a couple of days? I know lots of people who smoke .5-1oz per week but none of them will buy legal weed oz's at a time as most of them can't afford to spend $1000 per month on weed so they buy grey market at $100/oz

Also the growth of cannabis smokers is pretty much capped now and will be a very slow increase over the years.