Hemp Inc. (OTC:HEMP) has seen a more than 10% increase in its stock with the opening of the market Friday, and it might be due to the fact that yesterday the Las Vegas-based company disclosed that it is feeling very proud and patriotic after a number of states gave the seal of approval, passing legislation in order to further the growth of the industrial hemp industry.
Either that or it’s because Hemp Inc. announced two weeks ago that it has given its website a face-lift, offering its customers a look at the first phase of the new site. Or perhaps, it’s because Hemp Inc. disclosed at the start of the month that Scott Walker, Wisconsin Governor, officially signed Senate Bill 119 into law, which states that a pilot program will be put into action in the state in order examine and analyze both the marketing and the processing of industrial hemp.
Hemp Inc.
Founded in 2008, Hemp Inc. is a leader in the industrial hemp industry. For those who don’t know, industrial hemp has been a topic of debate for quite some time. Banned in North America towards the end of the 1930’s as it contained certain flowers that encompassed a psychoactive drug, others have spent years of their life fighting for industrial hemp as it can be grown – and used – in a number of different ways, such as fiber, seed, or dual purpose crop.
Hemp Inc. is one of the company’s that have been fighting for the growth of the industrial hemp sector. In fact, at the start of this year, CEO Bruce Perlowin came forward and told its shareholders that hemp has become a desired resource as more and more people are starting to become aware of its benefits. However, Perlowin said that until the federal ban is lifted, it is the company’s duty to continue to educate the world on what hemp is and how it can benefit the public.
What Happened Friday?
On Thursday, as mentioned, Hemp Inc. applauded a number of U.S. states for passing legislation, which could explain why the stock is up, as of this writing, 11.36% on Friday’s trading session.
Do you think companies should be fighting for the growth of the industrial hemp market? Let me know!
Featured Image: Depositphotos/© jankovoy
