2021 was hardly a banner year for the Canadian weed company; perhaps its fortunes are about to change.
Shares of Aurora Cannabis (NASDAQ: ACB) fell 14.6% this week as of Thursday, according to data from S&P Global Market Intelligence. The Canadian marijuana company closed at $4.46 a share on Friday of last week, opened at $4.37 on Monday, and dropped to as low as $3.79, its 52-week low, by Thursday afternoon. Aurora had plenty of company with its moribund week.
On yet another "red" day for stock markets, marijuana investors saw their stocks tumble right along with the rest of the Nasdaq. In a press release early this morning, Hexo gave investors an update on its strategic plan entitled "The Path Forward," explaining how Hexo -- shares of which traded above $30 just a couple of years ago, but now fetch just $0.50 -- intends to regain its mojo and get its share price moving higher once again. New product launches appear key to Hexo's plan, as the company launches sales of a "transdermal cream and a CBD-forward body lotion," and also a new line of "gummy confection called Redebles."