Hemp Inc (OTCMKTS:HEMP) Stock Moves in a Range: What Next?

The hemp sector has grown at an impressive rate in recent times due to favourable legislation and at this point Hemp Inc remains one of the leaders of the industrial hemp space. In recent days, the Hemp Inc (OTCMKTS:HEMP) stock has been rather steady and has largely moved within a range.

Yesterday the company announced the launch of its redesigned King of Website. It is a significant development for the company since the redesigned website is going to help with the distribution of the hemp products that are sold under the King of Hemp brand by Hemp Inc.

The range of products that are sold under the brand include dabs and smokables, all of which are made from the high quality organic hemp. However, the most important claim from the company with regards to the product is the fact that it believes that the redesigned website is going to eventually lead to a boost in revenues.

That is an important statement and one that must have come into the attention of many investors. Considering the fact that a stock can often breakout strongly from such a phase of trading in a range, it might be a good move from investors to keep an eye on the Hemp Inc stock.

Market Reaction:

On Tuesday, HEMP stock gained 2.46% at $0.0063 with more than 23.01 million shares, compared to its average volume of 38.05 million shares. The stock had moved within a range of $0.0059 – 0.0065 after opening the trade at $0.0060. Over the past 52-week, the stock has been trading within a range of $0.0032 – 0.0410.

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