The hemp sector is flourishing across the US. Increasing demand for hemp CBD oil, tinctures, and creams means this sector is capitalizing on hemp—which sounds like good news for HEMP stock.
You might think that such a popular sector would mean high investment prices, but not always. Hemp Inc. (OTC:HEMP) represents a very cheap penny stock that could be a good starting point for those who want to enter this space. It's a good time for hemp but is it a good time to invest in HEMP?
Let's have a look at HEMP stock!
HEMP Stock
Currently selling for $0.02 USD, HEMP stock has moved 20% throughout the last twelve months. But following an industry-wide sell-off, the stock has changed over -40% in the last three months.
However, the hemp industry in America is about to go through a resurgence. With the resignation of Jeff Sessions (announced on November 13th)—who was notoriously a hindrance to the growth of marijuana and hemp infrastructure in the US—the opportunity now abounds for loosened federal regulations on these industries. Sessions was an advocate against cannabis of any kind.
According to Hemp Inc CEO Bruce Perlowin, this offers opportunity:
“We are excited about the upcoming passage of the 2018 Farm Bill, along with the further implementation of progressive hemp policies that we trust will soon follow with the resignation of Sessions. We are ready to rebuild our nation’s hemp infrastructure at a time when the demand for hemp and hemp-derived CBD products is at an all-time high.”
>> Marijuana Stock Update: Aurora Cannabis Expands to the Czech Republic
CBD Market Enough for HEMP Stock?
There are now 40 states across America that have legalized hemp. The real catalyst for HEMP stock potential is the hemp-derived CBD market. It is expected to hit $591 million USD this year alone, but predictions for it to grow 40 times that—to $22 billion by 2022—have been made by a Brightfield Group report. The hemp industry is growing fast!
This puts Hemp Inc. at the fore of this market, thanks to its expertise and state-of-the-art hemp processing and manufacturing infrastructures across the US.
HEMP stock is in a prime position to reflect this new progressive era of hemp production in America. At $0.02 per share, it could be a risk worth taking.
Featured image: DepositPhotos © PixelsAway
