Following the announcement that had been made by the company yesterday, it is likely that the Hemp Inc (OTCMKTS:HEMP) stock is going to come on to the radars of investors this morning. The company announced yesterday that a total of four semi-trucks had hauled as much as 120,000 pounds of its DrillWall all natural kenaf/hemp Loss Circulation Material blend meant for the oil and gas well drilling sector.
Trading Data
On Thursday, HEMP stock ended flat at $0.0003 with more than 36.74 million shares, compared to volume of 93.59 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trade at $0.0003.
Hemp, Inc. Announces Largest Industrial Hemp/Kenaf Sale to Date
The sales agreement with regards to the same had been signed through Industrial Hemp Manufacturing, a subsidiary of Hemp Inc, back in 2019. As per the provisions of the agreement, more than 1 million pounds of DrillWall was supposed to have been sold in a period spanning a year. It was not possible to honour the agreement due to the coronavirus pandemic.
The Chief Executive Officer of the company Gary Perlowin spoke about the latest development. He noted that the company was back on track with respect to the agreement that had been signed. Perlowin went on to add that it was also working on another order for everything that is housed at the company’s facility in North Carolina. It could be a good idea to keep an eye on Hemp Inc stock this morning.
