Generation Hemp (OTCMKTS:GENH) Stock Moves Up After Announcing License Agreement
Generation Hemp (OTCMKTS:GENH) was up 4% after announcing a license agreement with a leading global brand, Gas Monkey Garage.
Market Stats
On Tuesday, GENH stock gained 3.35% to $0.62 with more than 8.8k shares, compared to its average volume of 2.5K shares. The stock moved within a range of $0.6200 – 0.6497 after opening trading at $0.62.
Generation Hemp Announces Agreement With Gas Monkey Brand for Launch of Sustainable Hemp Hurd Spill Absorbent Product Line
As per the agreement, Generation Hemp will produce a hemp hurd oil absorber in the United States and sell it through the Gas Monkey brand to customers, retailers, and wholesalers as an eco-friendly, ultra-absorbent spills clean-up product created in the United States. Notably,this isGeneration Hemp’s second line of ecologically friendly consumer goods created from hemp hurd farmed in the United States. The first product, Rowdy Rooster hemp animal bedding, was released in September last year and is now available on the Rowdy Rooster website and Amazon.
Gas Monkey Garage founder and owner Richard Rawlings is a star in the hits series “Garage Rehab” & “Fast N’Loud.” Over the past year, Rawlings and his company have cut cables and taken their love for classics online, with several episodes premiering on Facebook and YouTube each week. So, investors should watch GENH.
Gary C. Evans, Chairman and CEO of Generation Hemp, Inc. stated, “Hemp grows in the field within 90-120 days depending on weather conditions. It is free of chemicals and other potentially harmful substances. It benefits soil and is considered to be carbon negative. Add its incredible absorbency and containment performance and we see yet another hemp miracle product. Teaming up with a name like Gas Monkey and Richard Rawlings, and we give this miracle product the instant visibility it deserves! We are extremely excited to partner with Gas Monkey in this new, long term licensing agreement recently executed. We don’t think we could have found a better fit.”
Traders Corner
GENH stock is trading below the 20-Day and 50-Day Moving averages of $0.64 and $0.69 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.8163.
