When Hempacco (NASDAQ:HPCO) went public, the stock shot up because investors had a lot of enthusiasm for the company that makes cigarettes from hemp. After the IPO was priced at $6 a share, shares of Hempacco (NASDAQ:HPCO) skyrocketed 470% to $34.20. HPCO had its peak trading price of $41.80 per share.
As a result of considerably easier access to development capital, a stronger board of directors and management team, and the capacity to use its shares as a medium of exchange for strategic acquisitions, the company claims it now has the foundation to expedite the execution of its business plan.
A California-based manufacturer of CBD and hemp-based cigarettes is known as Hempacco. Its overall objective is to significantly disrupt the tobacco industry. It intends to achieve this by providing smokers with a tobacco and nicotine-free alternative. Hempacco now produces herb and hemp cigarettes with a variety of tastes, fragrances, and uses in a 53,000-square-foot facility.
Why Would One Invest In Hemp Tobacco?
For businesses, the IPO procedure can be taxing. Doing your research before investing in an initial public offering is crucial. Study the S1 file in further detail and learn as much as you can about the business, its rivals, and its goods. Examine its market capitalization, long-term growth strategies, and industry. Look for fresh press and news headlines online as well.
There are several noteworthy aspects of the Hempacco (NASDAQ:HPCO) IPO. Its main goal is to bring down a titan in the $1 trillion tobacco industry. Many have attempted it in the past but failed. However, it can rely on the billion-dollar hemp sector, which is a standalone industry.
Hempacco (NASDAQ:HPCO) will be the first hemp cigarette on the market. The company further intends to offer kiosks with vending machines for its goods.
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