3 Investors Betting on Hempacco (HPCO) Stock Right Now


  • Hempacco (HPCO) has partnered with Snoop Dogg to create HPDG.
  • The hemp company also announced a 4.73 million share public offering with an estimated price of $1.11 per share.
  • HPCO stock is up by more than 200% year-to-date.
HPCO stock - 3 Investors Betting on Hempacco (HPCO) Stock Right Now

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Hempacco (NASDAQ:HPCO) is up by more than 220% today on no immediate news about HPCO stock. However, the hemp cigarettes company made an exciting announcement earlier this month. Hempacco will be partnering with rapper Snoop Dogg to create a joint venture (JV) called HPDG. HPDG will create a consumer-packaged goods line that will be marketed by the rapper. These products will include hemp rolling paper, edibles, blunts, vapes and more.

“I’ve been looking for the best team out there to produce hemp products with me, and this team has it all – the science, innovation, and the reach,” said Snoop Dogg. “I am excited to offer my Snoop Dogg products to my fans across the country through this partnership … and this is just the beginning.”

Following the JV announcement, Hempacco submitted a Form S-1 to the Securities and Exchange Commission (SEC) that details a 4.73 million share public offering. The public offering is estimated to be priced at $1.11 per share, which would bring its total value to $5.25 million. However, the estimate was based on the closing price on Feb. 2. Today, shares of HPCO are in the high $2 range.

Following its completion, investors in the offering will own 16.8% of outstanding common stock. Other investors will own about 20.8% of common stock, while parent company Green Globe International (OTCMKTS:GGII) will own 62.4%.

3 Investors Betting on HPCO Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. As of Q3, only three 13F filers have disclosed a stake in HPCO. In total, institutional investors own 0.22% of all shares, while insiders own 82.62%. These same institutions also own 1.24% of the public float. Meanwhile, Whale Wisdom reports 13F filers do not own any options against HPCO. With that in mind, let’s take a look at the largest institutional shareholders of the company:

  1. Jane Street: 43,920 shares. Jane Street acquired its entire stake during Q3.
  2. UBS Group (NYSE:UBS): 6,545 shares. UBS sold 8,536 shares during Q4.
  3. Royal Bank of Canada: 1 share. The Royal Bank purchased one share during Q3.

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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. 

Article printed from InvestorPlace Media, https://investorplace.com/2023/02/3-investors-betting-on-hempacco-hpco-stock-right-now/.

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