Global Hemp Group (GBHPF) Stock Extends Rally: How to Trade Next Week?

The hemp industry has grown at a pretty impressive pace in recent times and investors nowadays have a lot of options when it comes to making investments in that space. One of the stocks that could be worth looking into at this point in time is that of Global Hemp Group.

On Friday, the Global Hemp Group (OTCMKTS:GBHPF) stock emerged as a notable gainer and ended up with gains of as much as 54%. There was no news about the company on Friday but earlier on in the week the company had announced that it had completed the acquisition of a strategically important property.

The property in question is an industrial property located in the Northwest portion of Colorado and Global Hemp has already made a down payment of $150,000 for it. The total value of the transaction is $1.4 million and the company is going to pay the rest of the amount in equally spaced instalments over the course of the next 18 month.

The property spans across an area of as much as 44 acres and it is going to be the place where the Hemp Agro Industrial Zone manufacturing plant is going to be situated. It remains to be seen if the stock continues to rally on Monday.

Market Reaction:

On Friday, GBHPF stock soared 53.53% to $0.0565 with more than 67.17 million shares, compared to  its average volume of 1.24 million shares. The stock has moved within a range of $0.0411 – 0.0945 after opening the trade at $0.0445. Over the past 52-week, the stock has been trading within a range of $0.0068 – 0.1000.