Hemp Stocks: Hempco and Isodiol on the Farm Bill Being Passed to Trump

hemp stocks

Hemp stocks might get a strong boost this week!

Yesterday, the 2018 Farm Bill was passed by the House of Representatives, by a 369 to 47 vote. The piece of legislation was passed by the Senate earlier in the week and now only needs approval from the big man, himself—President Donald Trump. This is a good sign for the hemp industry, as the US president has indicated in the past that he supports the Farm Bill. 

On Tuesday, the President told the White House that "the farm bill is in very good shape," and "our farmers are well taken care of." 

Under this new bill, hemp would be removed from the federal list of controlled substances, and hemp farmers will be able to apply for crop insurance. Farmers in the mid-west have had a rough few years, and many have even filed for bankruptcy. Hemp just may be their saving grace.

Today, we'll take a look at a few hemp stocks to keep a close eye on if the Farm Bill gets passed by President Trump.

Hemp Stocks to Watch: Hempco Food and Fiber Inc. (TSXV:HEMP)

Hempco Food and Fiber operates as a subsidiary of Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB). The hemp-focused company is headquartered in Burnaby, British Columbia. Hempco manufactures and distributes hemp food products for human and animal consumption. 

Due to it being a subsidiary of one of the largest cannabis companies in North America, Hempco is on our list of hemp stocks to watch. Four days ago, the company announced a five-pronged strategy to accelerate growth in its company and support the Canadian hemp industry. 

According to Yahoo Finance, HEMP is currently trading at $1.51 a share, up +$0.08 (+5.59%).

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Hemp Stocks to Watch: Isodiol International Inc. (CSE:ISOL)

Isodiol International is headquartered in Vancouver, British Columbia. The hemp-based company engages in the distribution and sale of hemp-based consumer products in Canada, Europe, Asia, and Latin America. 

Isodiol received a boost this morning on the Canadian Securities Exchange (CSE), which may be due to the Farm Bill being passed by the house. According to Yahoo Finance, ISOL is currently trading at $2.29 a share, up +$0.16 (+7.51%). 

Due to its strong presence in the hemp industry, Isodiol remains on our hemp stocks to watch list.

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