Hempacco (NASDAQ:HPCO) stock is soaring higher on Thursday even without any recent news from the smokable hemp and herb products company.
Instead of a company announcement or filing, we have heavy trading of HPCO stock to thank for today’s rise in price. As of this writing, more than 2.8 million shares of the stock have changed hands. That’s a massive surge in trading volume compared to the company’s daily average of 127,000 shares.
It’s also worth noting that HPCO has had a volatile week. That’s due to the company announcing a partnership with Snoop Dogg on Monday. This has it selling a new brand of marijuana products under the rapper’s name.
What To Know About HPCO Stock
Investors will keep in mind that Hempacco is firmly in penny stock territory. The company’s shares traded for less than $1 each yesterday and its market capitalization is only $17.647 million as of this writing. Both of these factors play into how easily shares of HPCO stock can be affected by increased trading volume.
Hempacco operates out of San Diego, California, where it produces its own hemp cigarettes in a 53,000-square-foot facility. The company was founded in 2019 and made its stock market debut late last year with an initial public offering (IPO).
HPCO stock is up 65.5% as of Thursday morning.
Investors looking for all of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the most recent stock coverage traders need for Thursday! That includes the biggest pre-market stock movers this morning, as well as the latest on Disney (NYSE:DIS) and Uber (NYSE:UBER) stock. You can find more from the following links!
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On the date of publication, William White 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.