HEMP stock is up Wednesday after yesterday announcing that the Governor of Georgia has signed a bill to allow hemp farming.
Here's what we know.
HEMP Stock and Georgia Hemp Farming
On May 14, Hemp, Inc. (OTC:HEMP) said Brian Kemp, Governor of Georgia, signed a bill allowing the farming of hemp in the state. While the news of Georgia hemp farming impacts the state in many ways, it's also going to affect Hemp Inc., a Spring Hope company.
According to Hemp CEO Bruce Perlow,
“the signing of this bill in Georgia provides Hemp, Inc. with the opportunity to begin the search for partnerships across the state." Perlow also said it allows Hemp, Inc. to "continuously add to our already robust list of ventures across the country.”
“This bill will open up opportunities for many farmers across the rural areas of Georgia by helping diversify the agricultural economy and providing a lucrative crop that has thousands of different uses. I have seen many farmers shift their crops from vegetables, tobacco and fruit to start growing hemp because the crop brings new life into their rotation.”
Combining the available land in Georgia with the fact that the hemp market has significant potential (it has an annual growth rate of 15%), it's not surprising yesterday's news sent HEMP stock into the green Wednesday. Not to mention Hemp, Inc. works to build a business constituency for small American farmers, and hemp farming in Georgia executes this mission.
According to Yahoo Finance, as of 3:15 PM EDT, HEMP stock is trading at $0.0239. This puts HEMP stock up 4.09%.
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Takeaway
What do you think about Governor Kemp allowing hemp farming in Georgia? Do you think it will impact other companies, not just Hemp, Inc.? Further, do you see the news allowing HEMP stock to stay in the green for the remainder of the week?
Let us know what you think in the comments below!
Featured image: DepositPhotos
