Hemp Inc (OTCMKTS:HEMP) Hesitating Around 5 Cents Per Share
[[tagnumber 0]][[tagnumber 1]]August saw Hemp Inc (OTCMKTS:HEMP) drop below the 10 cent mark and the ticker has gone further down the charts since then. It has been sliding since the beginning of this month, but the latest sessions seems more stable, with lower percentile movements.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the ticker has lost a significant amount of its value and this isn’t surprising. Even after all the sliding we see that [[tagnumber 6]]HEMP’s[[tagnumber 7]] market cap is more than $15 million. In the same time, the company has very little to show in its financial filing for the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $176 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $907 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $2.5 million[[tagnumber 13]] [[tagnumber 12]]sales: $33 thousand[[tagnumber 13]] [[tagnumber 12]]net loss: $1.14 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These numbers fail to provide confidence for investors and so does the fact that the company is still not ready with the assembly of its decortication plant. The management issues fluff press releases from time to time and they rarely manage to attract much investor interest.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, [[tagnumber 6]]HEMP[[tagnumber 7]] did manage to gain 8.16% in yesterday’s session. This led the ticker to a closing price of $0.053 while a total of 3.37 million shares changed their owners and generated $172 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see a bit of hesitation in today’s session and [[tagnumber 6]]HEMP[[tagnumber 7]] is 1.89% down as of the writing of this article. Will the company stock sink below the 5 cent mark and continue its descent is for time to tell. Just be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]
