Most hemp stocks are tumbling this morning, and it comes as a shock to a number of individuals. Yesterday, President Trump signed the 2018 Farm Bill, which supports farmers for five years in the US. The past few years, farmers have been going bankrupt, and this piece of legislation aids them.
In addition to aiding the farmers, the 2018 Farm Bill legalizes industrial hemp in the US. US citizens were allowed to sell, possess, and consume hemp-derived CBD products, but farming hemp was illegal in most states. A special license had to be obtained, but now farming hemp will be much easier for farmers. Since grain, corn, dairy, and beef prices have been dropping, farming hemp might be their saving grace.
Today, we'll take a closer look at a few hemp stocks that are tumbling but have the potential to gain big in 2019.
Isodiol International Inc. (CSE:ISOL)
Isodiol International is based out of Vancouver, British Columbia, and it engages in the development, marketing, distribution, and sale of hemp-based products in Asia, Canada, Europe, and Latin America.
Yesterday, the hemp stock announced it had acquired Food Labs, Inc and gained a specific investor relationship with Toba Capital LLC. Isodiol International has a solid foot in the door in the hemp industry in North America. That's why it makes our list of hemp stocks to watch in 2019.
According to Yahoo Finance, ISOL is trading at $1.45 a share, down -$0.26 (-15.20%).
Hempco Food and Fiber Inc. (TSXV:HEMP)
Hempco Food and Fiber is among a small group of hemp stocks that are actually trading green today. The hemp manufacturer and distributor is a subsidiary of Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB). For this reason, it immediately makes our list of top hemp stocks to watch—as Aurora is a top leader in the cannabis industry.
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According to Yahoo Finance, Hempco Food and Fiber is trading at $1.17 a share, up +$0.02 (+1.74%).
Hemp Inc (OTC:HEMP)
Hemp Inc is considered one of the first movers in the hemp industry in the US. The company was founded back in 2008 as Marijuana, Inc but changed its direction and name to hemp back in June of 2012.
HEMP has had a phenomenal month share wise, among the other hemp stocks. This month, the hemp stock is up nearly 50%. According to Yahoo Finance, HEMP shares are currently trading at $0.359 a share, down -$0.0061 (-14.52%).
Are you surprised the signing of the Farm Bill didn't have more of a positive effect on hemp stocks today?
Featured Image: Depositphotos/© ocskaymark
