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Hemp Inc. (OTCMKTS:HEMP) Surging On Massive Opportunity In Hemp Sector

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Hemp Inc. (OTCMKTS:HEMP) bounce back after a steep pullback is gaining momentum. The stock could as well break out of the current tight trading range, on renewed and strengthening investor confidence about the company’s long-term prospects. The stock has been trading in a $0.02 to $0.04 trading range for the better part of the year. Unlike other stocks that took a significant hit in the sector early in the year, Hemp Inc. held steady. With sentiments in the industry turning bullish in recent months, the stock could as well break out heading into the New Year.

Upward Momentum Catalysts

One of the catalysts fuelling the upward momentum is a report indicating that the stock is a ‘Buy’ heading into the New Year. Though not a marijuana company, investors have started taking note of the company’s huge potential in the burgeoning hemp-derived cannabidiol CBD market. The state of Oklahoma legalizing industrial hemp production is a development that has helped strengthen the stock’s sentiments in the market. The legalization is of great importance as it essentially increases agricultural revenues as well as employment opportunities for the company. Hemp Inc. has rallied by more than 100% over the past one month after initially coming under immense selling pressure that saw it plunge below the $0.03 mark. The phenomenon run now faces immediate resistance at the $0.04 level.

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Source

A breach of the critical resistance level would be a significant development, as it will reaffirm the emerging uptrend. A rally followed by a close above the $0.04 mark should open the door for the stock to continue climbing high as bulls assume full control above the tight trading range.

Why is Hemp Inc.?

Burgeoning Hemp Market

Renewed investor interest comes on investors taking note of the fact that hemp-derived cannabidiol will dominate the cannabis sector in the years to come. The hemp market is on course to hit the $591 million mark on revenues, this year and could be worth more $22 billion by 2022. Hemp Inc. is a key player in the sector remains well positioned to be one of the biggest beneficiaries of the expected growth. “We are thrilled to be at the forefront of the hemp-derived CBD market that has already demonstrated record-breaking growth positioning us towards the very top of this multi-billion dollar industry,” said Hemp, Inc. CEO Bruce Purloin. In a bid to take advantage and gain big from the expected growth, Hemp Inc. has inked strategic partnerships with farmers across the U.S. The company has consequently started providing hemp education as well as infrastructure for cultivating processing and manufacturing hemp. Hemp Inc. has also started processing more than 100,000 pounds of industrial hemp from farms contracted in Oregon attesting to its growing empire. Its operations currently consist of 8 greenhouses made up of about 3,000 square feet each. The company has also inked a 500-acre strategic growing partnership with Veteran Village Cons Community to grow Hemp in Arizona.

Bottom Line

Hemp Inc. has continued to execute on its strategic vision of expanding its footprint across the U.S. Diversification has turned out to be the order of the day as the company continues to pursue revenue opportunities beyond its Headquarters in North Carolina. The building of an industrial hemp infrastructure that was nonexistent is a development that has strengthened Hemp Inc. growth metrics in the burgeoning sector. The company remains well positioned to benefit a great deal as an early mover as the nation continues to embrace the hemp-derived cannabidiol products. It thus does not come as a surprise that investors are starting to push the stock up the charts on taking note of the company’s long-term growth prospects. After the recent spike, the stock looks set to power above the tight trading range that formed early in the year on strengthening investors’ confidence.

Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!

   

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Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade




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Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play