Marijuana stocks are on fire again!
According to a recent pr HEMP, Inc. (PINK: HEMP) focuses on the vast market created by the quickly emerging, and growing, multibillion dollar industrial hemp industry. HEMP, Inc. is not involved in the cultivation or marketing of medical marijuana. It is the company's belief that legalization of hemp in all 50 states and at the federal level will come to pass. With that in mind, the company is building infrastructure with the potential to gain substantial market share before and after industrial hemp prohibition ends. (Pending any federal licensing or other requirements, that may be enacted after hemp prohibition ends).
Yesterday HEMP announced that a Spike in Medical Marijuana and Industrial Hemp Stocks Projected for Entire Industry Sector — Bruce Perlowin, CEO of Hemp, Inc. and industrial hemp veteran, whose company led the last pre-election growth curve back in 2009 with a 480% increase gave insight on when he thought the spike this month will start and why.
According to Bruce Perlowin, "Two weeks before the election is when all the action starts. We have medical marijuana on the ballot in Arkansas, Missouri, Pennsylvania, Illinois, New York, Massachusetts, and Ohio. You have industrial hemp on the ballot in Colorado, New Hampshire, New Jersey and New Mexico. Then they're trying to legalize the recreational use of marijuana in Colorado, Washington and Oregon. The activist organizations (Marijuana Policy Project, Law Enforcement Against Prohibition, Americans for Safe Access, NORML and many other groups) that run the campaigning for legalization have a very particular strategy. Predictable, none-the-less. They wait until 2 weeks before the election and then start a massive media campaign… an all-out blitz to educate people so they can vote yes. This doesn't allow the opposition time to respond with their negative and false propaganda. The opposition can be the prison guard union that can lose 800,000 prisoners a year who are incarcerated for marijuana. Consequently, the massive media campaigning makes people outside our industry aware of this huge industry that's growing phenomenally. Now you have everyone looking for investment opportunities in an industry that's soaring."
Conclusion: HEMP has seen some important developments over the last few months the likes of which are rarely seen on the OTCBB. The stock is technically sound and looks to be going much higher in the short term. While HEMP stock is still quite cheap they have developed the type of loyal following that catapulted CBIS to 2,000% + gains. All this Makes HEMP a stock to watch and might just still provide a spectacular trade opportunity in the weeks and months ahead!