As previously reported, Jefferies analyst Owen Bennett downgraded Hexo (HEXO) to Underperform from Hold with a price target of C$1.00, down from C$1.90. He contends that Canadian cannabis consensus sales estimates remain too high and his "Cannabis 2.0" analysis finds that economics suggest the gross margin benefit from new products "may be nonexistent early on," Bennett tells investors. Aphria (APHA) appears best placed to continue to take share, while new data and a proprietary brand positioning matrix support his concern on Hexo's and Canopy's (CGC) portfolios in particular, Bennett added. He increasingly expects to see "a strong divergence between those that can deliver financially near term and those that can't," the analyst noted.

In this week's "Rising High," The Fly's recurring series focused on cannabis and psychedelic stock news, The Fly looks back on study dosing, a completed acquisition and a research partnership. ATAI ANNOUNCES DOSING... To see the rest of the story go to thefly.com. See Story Here