Hemp stocks are up and down on both US and Canadian exchanges as the week comes to a close. It's been a monumental week for the hemp industry in North America. The US Senate and House of Representatives passed the 2018 Farm Bill. Now, the bill is in the hands of President Trump.
Luckily, the US president in the past has stated he strongly supports the bill, as the Farm Bill looks to save the struggling farmers in the US midwest. Today, we'll take a closer look at two hemp stocks trending on the markets today.
Hemp Inc (OTC:HEMP)
Hemp Inc produces products that are made from industrial hemp. The hemp company is based out of Las Vegas, Nevada, and was once known as Marijuana, Inc. The company shifted to Hemp in June of 2012. Hemp Inc also offers products in the medical and recreational marijuana space.
This morning, Hemp Inc announced the passing of the Farm Bill. The cannabis company expects the US President to sign the bill into law by the end of this year.
“This is a historic decision for our nation,” said Hemp Inc CEO Bruce Perlowin. “Our company had the foresight to begin research granted in the 2014 Farm Bill, and have been awaiting progress on the 2018 Farm Bill for quite some time. Since our company has been operational in multiple states over the years, providing the necessary infrastructure for farmers to maximize their output, we know that this legislation will benefit local economies tremendously.”
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At press time, Hemp Inc remains one of the only hemp stocks to be trading green. According to Yahoo Finance, HEMP is trading at $0.0387 a share, up +$0.0020 (+5.45%).
Charlotte's Web Holdings Inc (CSE:CWEB) (OTCQX:CWBHF)
Charlotte's Web Holdings is a hemp-focused company based out of Boulder, Colorado. The company was incorporated in 2018, and its market cap is almost at $1 billion USD.
Seventeen days ago, Charlotte's Web released its Q3 financial results.
Charlotte's Web is a fast-growing hemp stock in North America, but its shares today are trading red. According to Yahoo Finance, CWEB is currently trading at $13.52 a share on the CSE, down -$0.66 (-4.65%). On the OTCQX, CWBHF is trading at $10.06 a share, down -$0.57 (-5.36%).
Featured Image: depositphotos/DeborahIK
