On Monday, May 13, HempAmericana, Inc. (OTC:HMPQ) announced its launched commercial bottling at its laboratory in Augusta, Maine. On the news, HMPQ stock jumped nearly 100%.
Here’s what we know.
HMPQ Stock Flying
Earlier today, HempAmericana, a company involved in the CBD oil and rolling paper business, said that it has started commercial bottling of 500 mg and 1000 mg full-spectrum cannabidiol distillate at its Maine-based laboratory.
For now, HempAmericana plans to produce 2000 bottles per day, eventually increasing to 8000 bottles per day to fill demand. Production will occur under the brand name “Weed Got Oil.”
“After so many struggles, we have been able to prevail and we are now officially in production of this incredible product,” said CEO Salvador Rosillo. Thanking not only the HempAmericana team but shareholders of the company, Mr. Rosillo said the New York-area company can “now see the light.”
“We are a real company, bootstrapping operations and our laboratory features extraction equipment including a supercritical C2 extraction machine.”
And HempAmericana doesn’t seem to be the only one seeing the light after this announcement.
According to Yahoo Finance, as of 1:32 PM EDT, HMPQ stock is trading at $0.0112 on the OTC market, which puts the stock up 77.78%. Earlier in the trading day, HMPQ stock was up around 95%.
When you consider how popular CBD products are, and the fact that HempAmericana has now started bottling in Maine, which allowed the HMPQ stock to trade up nearly 100%, we could argue that this is a story and company investors might want to think about paying attention to over the next few weeks. In fact, CEO Rosillo even said there will be several new updates announced in the coming weeks.
What do you think? Do you think HMPQ stock deserved to trade up as high as it has Monday? Let us know what you think in the comments below!
Featured image: DepositPhotos