Generation Hemp Inc (OTCMKTS:GENH) Stock Continues to Consolidates After a Big Jump
Generation Hemp Inc (OTCMKTS:GENH) stock continues to trend in a narrow range over the past few weeks. The stock has soared over 150% so far this year.
Market Action
In Thursday’s trading session, GENH stock ended unchanged at $0.81. More than 640 shares have exchanged hands, compared to its average volume of 3.3K shares. The stock opened at $0.65 and moved in a range of $0.6505 – 0.8099.
Generation Hemp Announces Official Launch of Rowdy Rooster Hemp Animal Bedding Product Line
Here are the highlights:
Generation Hemp, Inc. (the “Company”), a Dallas/Fort Worth based midstream hemp company (OTCQB: GENH), and its wholly-owned subsidiary, GENH Halcyon Acquisition, LLC (collectively the “Company”), today announced the official launch of its Rowdy Rooster Hemp animal bedding consumer goods product line.
The animal bedding line is made from the hemp hurd byproduct that is produced by the Company’s hemp processing operations. In efforts to create a green and sustainable operation, while also utilizing this byproduct to create an additional revenue stream, animal bedding was the best hurd product choice as one of the earliest adopted consumer markets for hemp hurd materials.
Hemp hurd animal bedding is also one of the healthiest animal bedding materials, as reported in university studies, given its characteristics and the elements that are important to effective, healthy animal bedding. Hemp animal bedding is also a favorite among consumers, as is conveyed in numerous testimonials that can be found throughout different forums and retail reviews on the internet.
Until the last couple of years, hemp hurd and fiber products have been imported to the United States, and have not been as accessible as other materials, which has limited their market exposure. As a part of its plan to help the community experience and adopt hemp animal bedding and to continue R&D efforts, the company has identified a local 501 c 3 Non-Profit Kentucky animal rescue farm, Karumel Farm Animal Rescue (karumelfarmanimalrescue.org) and plans to provide its Rowdy Rooster Hemp animal bedding to this farm.
Trader Notes:
GENH stock is trading below all the key moving averages with 200-day and 50-Day SMA stands at 1.126 and $0.8929 respectively. Over the past year, the stock has soared over 237%. Will the stock be able to find the bottom and recover from the oversold zone?