Hempacco Co Inc (NASDAQ:HPCO) shares are trading higher Tuesday amid the company’s initial public offering.
Hempacco’s common shares began trading on the Nasdaq Tuesday under the ticker symbol “HPCO.” The company had planned to offer 1 million shares of common stock at a public offering price of $6 per share for total gross proceeds of $6 million.
The stock opened for trading Tuesday at $38 per share (up more than 500%), before pulling back and trending lower for most of the day. It was among the top trending tickers on Stocktwits at press time.
Hempacco aims to disrupt the nearly $1 trillion tobacco industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice and cannabinoid smokables and rolling paper.
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HPCO Price Action: Hempacco shares were up 32.2% at $7.93 at press time, according to Benzinga Pro.
Photo: sudheir kumar from Pixabay.
