Shares of Hemp Inc (OTCMKTS:HEMP) rallied 75.86% after the company announced the opening of a multimillion state of the art cannabis processing facility. The facility is set to supplement the company’s operations in North Carolina, Kentucky, and Colorado where it already has production and processing facilities.
Wednesday’s rally pushed Hemp Inc (OTCMKTS:HEMP) to the upper end of its $0.02-$0.03 trading range waiting to see if the momentum is strong enough to catapult it to 52-week highs of $0.22 a share. The rally came as Investors remained bullish about the company’s growth prospects in the fast growing legal cannabis industry.
One month daily candlebar chart for HEMP Growing Extraction Capabilities
Hemp Inc (OTCMKTS:HEMP) has been aggressive in the pursuit of opportunities in the multibillion industry. Recently, the company installed the NuAxon Tech CO2 Supercritical extractor to further enhance its cannabis extraction capabilities. The extractor, reportedly the “gold standard” for the industry, boasts of a large capacity for extracting various therapeutic compounds.
Hemp Inc (OTCMKTS:HEMP) is also in negotiations to form a joint venture with a huge 40,000 square-foot facility capable of