The hemp industry has grown by leaps and bounds in recent times and one of the companies that investors could consider tracking at this point is that of Hemp Naturals (OTCMKTS:HPMM).
The company, which is involved in development, acquisitions and ultimately the selling of hemp related products, saw its stock soar by as much as 50% yesterday. While the heavy interest in the stock was noticeable, it should also be noted that there was no news about the company that could have led to such enormous gains. The last important news with regards to Hemp Naturals emerged back in June 29.
At the time, Hemp Naturals announced that its acquisition of an advanced facility located in upstate New York was pending. The acquisition of the facility is a part of the company’s larger plan of eventually becoming a leader in the industrial hemp space.
However, that is not all. If cannabis legalization does take place at a federal level, then Hemp Naturals will like to be a major player in that industry as well. Considering the magnitude of the gains made yesterday, it might be a good idea for investors to keep an eye on the stock over the course of the coming days.
Market Reaction:
On Monday, HPMM stock surged 50% at $0.0039 with more than 297.54 million shares, compared to its average volume of 22.29 million shares. The stock had moved within a range of $0.0025 – 0.0042 after opening the trade at $0.0026. Over the past 52-week, the stock has been trading within a range of $0.0025 – 7.5100.
 Stock Continues to Move Higher: A Good Buy Now?){kind=link}