HEMP, INC. (OTCMKTS:HEMP) Soars Higher Than Ever
With a jump of no less than 83.39%, HEMP, INC. (OTCMKTS:HEMP) certainly made a splash during yesterday’s trading session.
The ticker opened high and immediately started climbing the charts, reaching $0.197 before it finally fell to approximately $0.16. After that it pretty much continued to fluctuate around said high until the end of the trading session.
Although it is true that yesterday brought the whole pot stick industry a serious up, no other company can match the jump made by HEMP. Companies like GreenGro Technologies, Inc. (OTCMKTS:GRNH), Growlife Inc. (OTCBB:PHOT) and mCig Inc. (OTCBB:MCIG) all came out on top and registered an increase in market value and trade count on one level or another, but HEMP was the leader of the pack.
The closing bell saw them at $0.168, and though that number might have slumped slightly after hours, it is still one of the best achievements of the year.
The trading frenzy the company rode to the top was clearly a delayed reaction to the farm bill legalizing the cultivation of industrial hemp on a Federal level. As it stands, it has more or less cleared the way for industrial hemp pilot programs in states such as Colorado, Washington, California, Kentucky, Maine, Montana, North Dakota, Oregon, Vermont and West Virginia.
The news has been circulating around since Wednesday, January 29, 2014, pushing all of the legal marijuana sector up for a while now. Indeed, it is the one thing that could have taken HEMP from $0.075 to $0.17 in just three trading sessions, seeing how the company had no new filings or press releases at that point.
A new press release did come out after the end of the session and its consequences will probably become obvious today. As it is, it can only add to HEMP‘s momentum, but only time will tell if that will be enough to keep HEMP going.
