Dallas based hemp company Generation Hemp Inc (OTCMKTS:GENH) is one of the companies from the hemp sector that could be of interest to investors at this point in time.
Trading Data
On Tuesday, GENH stock ended flat at $0.4000 with more than 500 shares, compared to volume of 1.10K shares. The stock moved within a range of $0.4000 – 0.4000 after opening trade at $0.4000.
Generation Hemp Officially Launches Gas Monkey Spill-Jack Hemp Product Line
The company was in focus on Tuesday after it announced that its fully owned subsidiary unit GENH Halycon Acquisition LLC had collaborated with Richard Rawlings’ Gas Monkey Garage and official launched the hemp product consumer goods line named Gas Monkey Spill-Jack. The products in question are plant-based, sustainable, biodegradable and 100% natural, which are made from hemp hurd that is produced by the hemp processing operations of GENG Halycon.
The announcement was a significant one considering the fact that it is the second consumer products line that has been produced by the company. The other product is the animal bedding line that is branded as Rowdy Rooster Hemp. The latest line of the products launched by the company was made available on the website www.spilljackusa.com.
However, the company also added that the products were soon going to be made available on Amazon as well. The products are spill absorbents and are going to be made available in three broad categories. It could be a good idea to keep an eye on the product.
Key Quote
Chairman and CEO of Generation Hemp, Inc. commented, “We began experimenting and testing hemp hurd’s efficacy against all the industrial absorbent standard go-tos. Spill-Jack performed as well or better against every other material. Most of the current products used are not the best environmental options, and other eco-friendly options just don’t perform as well. When we brought the milled hemp stalks to Richard Rawlings’ Gas Monkey Garage, I think everyone was somewhat stunned at Spill-Jack’s performance.”
Technical Data
GENH stock is trading above the 20-Day and 50-Day Moving averages of $0.37 and $0.38 respectively. However, the stock is trading below the 200-Day moving average of $0.63. The company has a total market capitalization of $45.26 million.
