The beginning of 2016 was sure a big disappointment for the stock market. Wall Street had its worst New Year beginning since 2008. The Dow tumbled almost 400 points (2.3%) and the Standard & Poor’s 500 stock index fell even more: down 2.4% to 1943.09. Even hemp stocks did not escape this event.
The global market freakout of 2016 just got worse. The latest scare came on Thursday as China’s stock market crashed 7% overnight and crude oil plummeted to the lowest level in more than 12 years.
The wave of selling has knocked the Dow down 911 points, or more than 5% so far this year. That’s the worst four-day percentage loss to start a year on record, according to FactSet stats that go back to 1897.
Even some of the biggest and most trusted stocks are plummeting. For instance, Apple dropped to $96.45 on Thursday. It is now down a total of 28 percent since hitting a record high of more than 134 dollars a share back in April.
While many of us do not fully understand what all of that means… we do know one thing! The stock market is at the lowest it’s been in many years. Even the penny stocks, including hemp stocks, have felt the effects of this market collapse.
Many analysts talk about the “pot stocks” dropping and loosing money, trying to point out flaws of the companies. Yet it’s only fair to look at the global picture of what the entire stock market is doing. It’s no wonder everything is down.
This outlook may look bleak, but Hemp, Inc. will have its biggest year in 2016. With the challenges of 2015 behind us, we are getting ready to get the decortication plant up and running in the first part of this year.
Hemp, Inc.’s subsidiary Industrial Hemp Manufacturing, will be producing DrillWall™, a “loss circulation material” (LCM) used in the oil industry and SpillSuck™, an oil spill absorbent material. What is important to know is that there is a shortage of this material in the world and only a handful of companies produce it.
The products produced by Hemp, Inc. are natural. Initially we will be using the kenaf plant to make these products. According to a Navy study, kenaf is a super absorbent material as well as being a renewable and sustainable resource. The quality of DrillWall™ and SpillSuck™ are superior to most of the other products on the market today.
According to Bruce Perlowin, CEO of Hemp, Inc., ”We will be ‘greening up the oil industry’ with our natural products.“ There are already several Fortune 500 companies that have inquired about the products already.
Hemp, Inc. has the only decortication plant of this size and capability in North America. Not only will we be the only provider of these products in America, we also hope to be able to provide South and Central Americas, as well as other countries in the world with these products as well. This is one of the hemp stocks that may surprise in the near future.
So despite the state of the stock market, Hemp, Inc. will go on to be the leader in the industrial hemp industry that is emerging in America. Just as hemp was once declared a commodity by the United States, it is again emerging as a viable cash crop, capable of producing a multitude of quality products. In addition, hemp is an environmentally friendly crop.
Did you know? Tobacco farmers are looking into growing hemp crops. This is a sign of the times… hemp is back in the game! Support hemp in your state. Find out more about current legislation in your state at Vote Hemp.