Ahead of next week’s mid-term elections, the penny stock of Hemp, Inc. (HEMP) is leading the OTC as speculators hope to catch a ride on legalized marijuana. It’s already been an amazing two weeks for the research and development focused baby of Bruce Perlowin who are lined up to capture all the new buzz on all things made of industrial hemp. Since the Company’s focus is not based on the stoner vote, but rather the acceptance and growth from the non-psychoactive byproduct of the happy green plants, the move these last 2 weeks on HEMP stock without any news only projects what should be expected come late next week when states across America agree to go green.
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HEMP Stock Quote
The last public announcement from Hemp, Inc. came a little more than a month ago when Perowlin made it known that a 70,000 sqft. facility had been purchased and secured for the Temafa decortication line of equipment that is expected to help Americans transition to hemp-based, green solutions. The Company picked up semi trucks, trailers and forklifts as well in order to get into the new facility which is expected to initially process 15 million pounds of kenaf before moving onto hemp.
When the Q3 financial statements get filed with the OTCMarkets for the 3 months ended September 30, 2014, there should be a significant increase to the $7,306,010 worth of assets ($4,616,849 of which were deemed “Securities Held For Sale”) which is significantly more than the $200,964 in notes payable, the only real liability on the books. Having reported sales for the 3 and 6 months ended June 30, 2014 worth $2,365,763 and $7,856,637, respectively, the shift into a facility which can handle an extremely large increase in production should begin to show up on the Q2, 2015 financials.
While HEMP stock is leading the entire OTC in trades as of mid session on Halloween, other MJ stocks like Medical Marijuana, Inc. (MJNA), American Green, Inc. (ERBB), Cannabis Science, Inc. (CBIS) and Medbox, Inc. (MDBX) are also seeing trading activity increase as they are all up single-digits so far today. With such a huge surge of interest in HEMP stock just days before “Marijuana” is due to be seen as a hot topic in many states like it was in Colorado and Washington a year ago, a close watch on support at 0.05 has the shorts wishing they had gone treating instead of getting tricked.
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About HEMP Stock
Hemp, Inc. , while not in the business of cultivation or marketing of medical cannabis, is focused on industrial hemp and the myriad of uses in creating a new, clean green American agricultural and industrial revolution.
Click here to view the OTC filings for HEMP.
Click here to view the website for Hemp, Inc.
Authorized: 3,000,000,000
Issued and Outstanding: 2,533,728,184
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 10/31/14 | 0.0482 | 0.0570 | 0.0450 | 0.0530 | +0.0070 | +15.43% | 32,711,480 |
| 10/30/14 | 0.0409 | 0.0470 | 0.0400 | 0.0460 | +0.0050 | +12.20% | 18,136,398 |
| 10/29/14 | 0.0384 | 0.0419 | 0.0370 | 0.0410 | +0.0021 | +5.40% | 12,136,601 |
| 10/28/14 | 0.0430 | 0.0445 | 0.0381 | 0.0389 | -0.0031 | -7.38% | 22,932,102 |
| 10/27/14 | 0.0475 | 0.0488 | 0.0411 | 0.0420 | -0.0050 | -10.64% | 14,591,300 |
Bottom Line:
Marijuana related penny stocks have all run in packs dozens of times over the last 2 years and last year proved to be a trend when almost every single OTC ticker that even mentioned the words marijuana, cannabis or hemp prior to the new year skyrocketed. Seeing how HEMP stock is up over 100% from its lows 2 weeks ago, not paying close attention to it, or your favorite MJ stock that you have been tracking, could be a very costly mistake heading into the last real month of trading this year. The shorts sure got tricked out of HEMP when they thought a roll back down to the 0.02’s was almost sure to come.
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