HEMP, INC. (OTCMKTS:HEMP) Pushed Even Further Up
The company opened high and was immediately headed up, reaching $0.288 before it stabilized somewhat and started fluctuating around $0.27.
Many pot stocks registered a notable upward surge yesterday, but just as on Friday, HEMP‘s was way ahead of the rest. Companies like Terra Tech Corp(OTCMKTS:TRTC), GreenGro Technologies, Inc.(OTCMKTS:GRNH) and Growlife Inc. (OTCBB:PHOT) were all ahead in both stock price and trade count, but none of them could match HEMP‘s rapid chart climb.
The session’s end saw company stock comfortable at a high of $0.261 – an impressive achievement, especially if you consider the fact that HEMP stock was worth about half a nickel at the start of 2014.
The company’s present aggressive chart climb is mostly due to the recent legislative developments in the U.S. The steps taken towards legitimization of the marijuana retail and cultivation business on a federal level provided the whole sector with a tremendous boost, and investors seem to have taken notice of the the new opportunities.
The way to profit from hemp across the US is now open, and the news has been enough to convince many potential buyers to commit to HEMP stock. Investors are advised to keep in mind that the US government is taking steps toward the legalization of the cultivation of industrial hemp – not the THC rich variety used for recreational purposes.
This fact was omitted in HEMP‘s most recent press release on the same topic. Said release may have added to the hype, further pushed buyers in the desired direction. However at this point it is difficult to say how much of the company’s present momentum is due to the marijuana stock market’s present instability and volatility and how much can be attributed to the aforementioned press release.