Hemp Inc (OTCMKTS:HEMP) continues to trade strong along its $0.04 tread-line where it has found good support. This is one of the original Cannabis stocks that has been trading on the OTCBB for several years.
Earlier this year when the pot stocks started running again HEMP made a nice move up from well under $0.03 to highs over $0.06. The publicity coming from the sector now that Marijuana has been legalized in a number of states continues to benefit HEMP.
Hemp Inc (OTCMKTS:HEMP) focuses on the vast market created by the quickly emerging, and growing, multibillion dollar industrial hemp industry. Hemp, Inc. HEMP, +14.98% is not currently involved in the cultivation or marketing of medical cannabis. The Company’s primary focus is on industrial hemp and the myriad of uses (over 25,000 products made from hemp that the hemp plant offers) in creating a new, clean green American agricultural and industrial revolution.
HEMP is a company with a vision. Part of that vision is foreseeing the potential worldwide benefits that may be derived from the myriad of uses for industrial hemp and recognizing the profits that could be made in making the world a better place.
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On September 25 HEMP announced its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, (IHM) has just purchased and secured its permanent facility for the Temafa decortication line of equipment. Located east of Raleigh at 1436 N. NC Hwy 581 in Spring Hope, NC, the facility encompasses two buildings totaling nearly 70,000 square feet that spans almost 7 acres. The first of this magnitude and caliber in the United States, the newly housed decortication equipment underscores Hemp, Inc.’s long-term commitment to creating economic value and sustainable, green products.
Executives expect the move to be completed in another week or two. The equipment has already been disassembled under the watchful eye of a skilled German engineer from the Temafa manufacturer.
David Schmitt, COO of Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, said, “Initially, we will be processing 15 million pounds of kenaf after which we will process hemp.” Schmitt plans to begin operations as early as first quarter of 2015 and says there is a lot of interest in the products that will be manufactured at the plant. According to Schmitt, among the first products to be produced will be for the oil and gas drilling, automotive, paper, and textile industries as construction materials.
The future is very bright for Hemp, Inc.’s subsidiary, The Industrial Hemp and Medical Marijuana Consulting Company, known as IHMMCC which is comprised of a “Community of Companies.” IHMMCC has been touted as the best ‘connected’ consulting company in the industry.
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Conclusion: the last time pot stocks got hot HEMP ran over 4000% leading the fold. The stock recently hit a low of $0.025 and has made a significant reversal and now a strong move up on accelerating volume; HEMP looks to be under accumulation here.
Technically MDBX trades fairly close to established long term support levels. Investors accumulating here are betting the stock goes north come November with Marijuana being legalized in Alaska, Oregon and Washington D.C. The massive publicity expected could easily drive HEMP and the rest of the sector skyward again!
Disclosure: we hold no position in HEMP either long or short and we have not been compensated for this article.