A revenue warning from Hexo Corp. battered the broader cannabis sector on Thursday, sending the stock down 24% and putting it on track for its worst-ever, one-day percentage loss.

Hexo HEXO, -22.28%  surprised the market when it warned of a fiscal fourth-quarter revenue shortfall, citing “lower than expected product sell through.” The company said it was also withdrawing its fiscal 2020 financial outlook, as “regulatory uncertainty” and jurisdictional decisions to limit the availability and types of cannabis derivative products have led to an “increased level of unpredictability.”

The company expects revenue for the quarter to July 31 of C$14.5 million to C$16.5 million ($10.9 million to $12.4 million), well below the FactSet consensus of C$24.8 million.

MKM analyst Bill Kirk said the news was very

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