The General
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For five sessions in a row the stock of Hemp, Inc. (OTCMKTS:HEMP, HEMP message board) went nowhere but down. Admittedly the corrections were not that big but they were still enough to drop HEMP from an opening price of $0.695 on Monday to a close at $0.602 on Friday. The company tried to stop its depressing performance and issued a PR that actually contained some material information — the launch of their hemp-based cosmeceutical product line. The PR was issued early in the morning on Wednesday but it failed to influence the stock. In fact HEMP suffered its biggest loss for the week on that day when it slid down by 5%.
It seems that investors are starting to be less and less enticed by the PRs of the company and with a good reason. As we told you in our previous articles HEMP decided that it is a good idea to publish their July 3 press release two more times — on July 10 and July 11. The purchase of a line of decortication equipment and 15 million pounds of raw and processed kenaf is certainly rather significant but does it warrant repeating so many times? HEMP also tried to lure investors in by proudly announcing that the dividend of a little more than 2 million BioAdaptives, Inc (OTCMKTS:BDPT)'s shares they distributed among their shareholders had reached a value of $9 million based on the closing price of $4.60. The press releases came last Monday and since then BDPT have lost close to 70% of their value. At the moment their stock is trading at $1.50.
In addition to the fluff PRs HEMP is still surrounded by a multitude of red flags. For the first quarter of the year the company reported over $5.4 million in sales but as it turned out $5.3 million of them came in the form of 2.9 billion shares from 8 consulting partners. These partners are various pennystocks and most of them are either extremely thinly traded or are sitting deep into the double and triple zero territories. One of them — WebXU, Inc. (OTCMKTS:WBXU) actually got suspended by the SEC on June 5. Attempting any trades with the stock HEMP should be preceded by extensive research. Use caution and weigh all the risks in order to avoid any unnecessary losses.
Hemp Inc (HEMP) Penny Stock News Part 1 - YouTube
Hemp Inc (HEMP) Penny Stock News Part 2 - YouTube
News Moderator - The General @ 420 MAGAZINE ®
Source: Hotstocked.com
Author: Georgi Kamburov
Contact: Contact Us
Website: Hemp, Inc. (OTCMKTS:HEMP) Goes Through A Week Of Corrections
It seems that investors are starting to be less and less enticed by the PRs of the company and with a good reason. As we told you in our previous articles HEMP decided that it is a good idea to publish their July 3 press release two more times — on July 10 and July 11. The purchase of a line of decortication equipment and 15 million pounds of raw and processed kenaf is certainly rather significant but does it warrant repeating so many times? HEMP also tried to lure investors in by proudly announcing that the dividend of a little more than 2 million BioAdaptives, Inc (OTCMKTS:BDPT)'s shares they distributed among their shareholders had reached a value of $9 million based on the closing price of $4.60. The press releases came last Monday and since then BDPT have lost close to 70% of their value. At the moment their stock is trading at $1.50.
In addition to the fluff PRs HEMP is still surrounded by a multitude of red flags. For the first quarter of the year the company reported over $5.4 million in sales but as it turned out $5.3 million of them came in the form of 2.9 billion shares from 8 consulting partners. These partners are various pennystocks and most of them are either extremely thinly traded or are sitting deep into the double and triple zero territories. One of them — WebXU, Inc. (OTCMKTS:WBXU) actually got suspended by the SEC on June 5. Attempting any trades with the stock HEMP should be preceded by extensive research. Use caution and weigh all the risks in order to avoid any unnecessary losses.
Hemp Inc (HEMP) Penny Stock News Part 1 - YouTube
Hemp Inc (HEMP) Penny Stock News Part 2 - YouTube
News Moderator - The General @ 420 MAGAZINE ®
Source: Hotstocked.com
Author: Georgi Kamburov
Contact: Contact Us
Website: Hemp, Inc. (OTCMKTS:HEMP) Goes Through A Week Of Corrections
