Earlier this week, HempAmericana, Inc. (OTC:HMPQ) made headlines, with HMPQ stock jumping nearly 100% on Monday, May 13. Today, HMPQ stock is up again.
Here is what’s been going on.
HMPQ Stock Keeps on Flying
For those who don’t know, HempAmericana is a development-stage company. It focuses specifically on developing and selling products made of industrial hemp. The United States company also sells non-hemp based products and offers CBD oil in various flavours: peach, apple, and strawberry.
On May 13, HempAmericana said it launched commercial bottling of CBD distillate at its laboratory in Augusta, Maine. Specifically, the company has started bottling of 500 mg and 1000 mg full-spectrum cannabidiol distillate. According to the report, HempAmericana plans to start with producing 2000 bottles and then will move onto 8000 bottles per day.
The news positively impacted the company, with CEO Salvador Rosillo saying the news comes after “many struggles,” as well as the market.
On Monday, after the news was released, HMPQ stock went flying, trading up around 95% and then 77% around 1:30 PM EDT.
But the market optimism doesn’t seem like its slowed down since Monday.
According to Yahoo Finance, HMPQ stock is trading at $0.0123 on the OTC market. This puts HMPQ stock up 16.04% as of 2:07 PM EDT.
It’s only Wednesday and its already been quite the week for HMPQ stock. Do you think the HempAmericana stock will continue to thrive during the rest of the week? It’s clear the cannabis market is still pleased with the company’s decision to launch commercial bottling. But will this bull run last? It’s a possibility, considering CEO Rosillo said the company will be providing more updates on the commercial bottling soon, which could positively impact HMPQ stock.
What do you think? Make sure you let us know in the comments below! And don’t forget to follow along with any HMPQ stock updates.
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