Good Hemp Inc (OTCMKTS:GHMP) Stock In Bear Trend: Here is The Latest Development

The hemp sector has grown at an impressive rate in recent times but the situation with the Good Hemp Inc (OTCMKTS:GHMP) stock over the course of the previous week was not particularly great.

Market Stats

On Friday, GHMP stock fell 2% to $0.1225 with more than 33k shares, compared to its average volume of 12k shares. The stock has moved within a range of $0.1195 – 0.1450 after opening trading at $0.1350.

News Recap

The stock suffered from a strong selloff last week and ended up with a decline of 20% during the period. That being said, it may be interesting to note that there was no news about the company last week and hence, it may be important to take a closer look at events from the past. In this regard, investors need to note that the last time any news emerged about Good Hemp was back in July this year.

Back on July 20, the company announced that its subsidiary company Good Hemp Wellness had started shipping its CBD Softgel product to customers all over the United States. It should be noted that the product is approved by the United States Hemp Authority. It goes without saying that it was a significant development for the company and marked a key milestone for the product as well. Hence, it may be a good idea for investors to perhaps wait for news about the company before making their minds up about the Good Hemp stock.

Traders Corner

GHMP stock is trading above the 20-Day and 50-Day Moving averages of $0.19 and $0.41 respectively. The stock is trading in neutral zone with the RSI at 34.  The stock is down 54% in the past month.