It had 1,269% revenue growth in just 12 months!
Only one other sector offers this type of explosive growth (click here for details).
In fact, I’m expecting up at least 1,054% profits from these three stocks.
HEXO (NYSE: HEXO) reported impressive financials.
Quarterly revenues for this cannabis stock jumped 1,269% to $16.2 million during the last year. And sequential growth – from the previous quarter – was an impressive 144%.
The company is Canada’s fourth-largest cannabis company as measured by quarterly revenues. The only larger companies are Canopy Growth (NYSE: CGC), Aurora Cannabis (NYSE: ACB) and Aphria (NYSE: APHA).
HEXO is currently building out a huge 1 million-square-foot greenhouse expansion.
And it’s scaling up to produce 108,000 kg. of cannabis annually!
Based upon that level of production, we could be looking at C$648 million in annual sales.
While the recent growth is impressive . . .
The future for HEXO is even more attractive.
HEXO has other good news as well.
This week, the company announced a $263 million acquisition of Newstrike Brands. Once completed, the combined company will be able to produce 150,000 kg. of cannabis per year.
Plus, shares of HEXO recently was up-listed on the New York Stock Exchange. The listing on a major U.S. exchange makes the cannabis stock more attractive to institutional investors.
HEXO appears to be well-financed for continued growth.
In January, the company raised C$57.5 million from investors. Shares were sold at C$6.50. Additionally, the company obtained debt financing of $65 million.
Since the late December lows, shares have jumped 93%.
HEXO is a great company – and I personally own the cannabis stock.
However, I’m expecting even bigger profits from these top three stocks.
Frankly, the gains are bigger than anything I’ve ever seen before.
My price targets were just announced . . . and they’re huge. I’m talking about 1,053%, 2,977% and even 4,235%.