Hemp stocks have been the highlight of the cannabis industry in December. Last week, the House and Senate passed the 2018 Farm Bill off to President Trump. Now, the bill just awaits the President's signature. When signed, the hemp industry in North America is likely to boom. President Trump is expected to sign the new piece of legislation before the year is up.
The five-year bill will allow farmers to grow hemp, in replacement of their current crops. Farmers in the mid-west United States have taken quite a hit the past few years. Some have even had to file for bankruptcy. Many believe hemp could help save these farmers.
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Today, we'll take a look at two hemp stocks that are booming on both US and Canadian exchanges.
Hemp Inc (OTC:HEMP)
Hemp Inc is headquartered in Las Vegas, Nevada. The company produces products made from industrial hemp. Hemp Inc was formerly known as Marijuana, Inc but changed its name and direction back in June of 2012. The company was founded in 2008 and is a first-mover in the US hemp industry.
Yesterday, Hemp Inc was featured in Forbes, and its stock jumped up. Today, the hemp stock is still trading green. According to Yahoo Finance, HEMP is currently trading at $0.0485 a share, up +$0.0016 (+3.41%).
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Charlotte's Web Holdings (CSE:CWEB) (OTCQX:CWBHF)
Charlotte's Web is among the top hemp stocks trading on US and Canadian markets today. The company is based out of Boulder, Colorado, and it produces hemp-based wellness products in the US. The company was incorporated back in 2018, and its current market cap is just over $900 million USD.
Charlotte's Web hasn't released any company news recently, but its stock may be getting a boost from the Farm Bill anticipation.
According to Yahoo Finance, CWBHF is trading at $9.77 a share on the OTCQX, up +$0.52 (+5.59%). On the CSE, CWEB is trading at $13.19 CAD, up +$0.73 (+5.86%).
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