On September 6th, we re-covered some of the penny stocks to watch that were focused on Marijuana and Tetrahydrocannabinol product development companies. Since then, Hemp, Inc. (HEMP), aka Marijuana Inc., and others in the industry, have taken off assuming that pre-election mass media coverage could help to legalize, or at least soften the legal wording, the use of medical marijuana. For those who took a liking to the idea based on the gains CBIS provided to begin the year, HEMP stock price has already gained 167% since our alert.
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HEMP Stock Chart
Market Cap: 25.80M
Last: 0.033, up 0.007 (26.92%)
Dollar Volume: $91,151
Average Trade Size: 17,459
Issued and Outstanding: 558,565,764
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As stated in the PR which launched HEMP into actively traded arena yesterday:
“How would the legalization of marijuana benefit the American people and the economy? Industry analysts believe there will be a creation of a new and highly profitable agricultural industry, increased trade opportunities, an increase in the gross national product, improved environmental conditions, new tax resources, and reduced costs with respect to enforcement of current laws. With all eyes on the industrial hemp and medical marijuana industry, coupled with the benefits of legalization, savvy investors are beginning to invest heavily.”
According to the report, Hemp Inc.’s CEO, Bruce Perlowin, has accumulated
- over 22 million shares of stock in Rapid Fire Marketing, Inc. (RFMK);
- 800,000 shares of Cannabis Science, Inc. (CBIS);
- 2 million shares of Grow Life, Inc. (PHOT) ; and,
- 21 million shares in Medical Marijuana, Inc. (MJNA)
If those investments are personal, good on Bruce. If they are made via the Company account, which seems unlikely since they had just $258.64 in cash as of June 30, 2012.
About HEMP Stock
8174 S Las Vegas Blvd #109-367
Las Vegas, NV 89123
Bottom Line: The smokin hot penny stock sector of marijuana focused stocks is lighting up and traders should have HEMP, CBIS, MJNA, RFMK and PHOT on their radars. HEMP stock price has gained the most in the last month while MJNA is probably the riskiest of them all based on some outside activities from the companies President and CEO. Regardless, smoke ’em if you got ’em.
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