The DOW is rising today while the Nasdaq is red in mixed market action going into the noon hour, but shares of Hemp Technology Inc. (OTCMKTS: HPTY) are up over 150% so far today in morning trading action. The stock first got the attention of traders in early August when traders noticed that it announced it was acquiring Cannary Packing Inc. in an all stock transaction. The stock then paused in a consolidation range yesterday and broke out today to simply soar. Take a look at the chart.
Hemp Technology issued a press release about its Canary Packaging buyout in which CEO Chad Costa stated that “Cannary generated $3.7 Million revenue in its first full calendar year of operation, and we expect it be the engine of significant growth for HempTech.” Cannary has a series of vaping products that Hemp Technology plans to sell.
The news and stock action is driving a frenzy of trading activity. Many on twitter are taking notice.
I’ve loaded the dip at .0041! $hpty
— Otc Stocks Advisor (@StocksOtc) August 11, 2020
96% Strong Buy $HPTY https://t.co/3N0lT407li
— Ulises Gutierrez (@gutierrezu33) August 11, 2020
I have no position in this stock and neither does Mike Swanson who runs this website wallstreetwindow or anyone affiliated with him. His stock picks are on fire and he issued an alert this morning on a small cap stock with a nice consolidation pattern that he owns that has not broken out as of yet. You can get his pre-market email updates for free just click here to subscribe.
-Tim
