Hempacco (NASDAQ:HPCO) stock is taking off on Thursday after the hemp and CBD company announced a new distribution agreement.
According to a press release from the company, it has signed a Master Distribution Agreement with CBDAY Global Private Limited. That will see sales of the company’s products expand to both India and Thailand.
Hempacco notes that this expansion will allow for the purchase of its products both online and offline. The company is starting its expansion into the area with its Cheech & Chong and Rick Ross hemp products.
Siddharth Shivkumar, founder and CEO of CBDAY Global Private Limited, said the following about the news:
“I envision the Asian market, particularly India, as a sleeping giant that will explode into a $Trillion industry as hemp-based consumerism becomes widely popular.”
HPCO Stock Movement Today
With today’s news comes heavy trading of HPCO stock. That has more than 10 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 179,000 shares.
HPCO stock is up 55.5% as of Thursday morning but is down 63.4% since the start of the year.
Investors seeking out even more of the most recent stock market news today are in the right place!
InvestorPlace is home to all of the hottest stock market news for Thursday! That includes the biggest pre-market stock movers this morning, the latest news concerning artificial intelligence (AI) stocks and more. All of that is ready to go at the following links!
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On the date of publication, William White did not have (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.
