$Hempacco Co., Inc.(HPCO)$ 

Shares of hemp and herb products provider Hempacco (NASDAQ:HPCO) are continuing their wild gyrations and are down nearly 60% at the market open today already.

For context, HPCO shares had risen from $0.75 on February 8 to $4.4 yesterday. So, what gives?

The earlier price surge had come after HPCO teamed up with Snoop Dogg for the development of a product line of consumer-packaged goods. Today, though, the fortunes of HPCO shares have changed after the company announced an upsized underwritten public offering of 4.2 million shares at $1.50 apiece.

HPCO expects $6.3 million in gross proceeds from the offering and has also given underwriters a 45-day option to acquire 630,000 additional shares. The offer is anticipated to close on February 14.

Even after today’s decline, HPCO shares are still up a whopping 135.2% year-to-date

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment8

  • Top
  • Latest
  • Sg Lon
    ·2023-02-11
    latest news on the way
    Reply
    Report
  • Mingming789
    ·2023-02-11

    Ok

    Reply
    Report
  • PCKS1967
    ·2023-02-11
    👌
    Reply
    Report
  • SR8
    ·2023-02-11
    [shy]
    Reply
    Report
  • Chilli Padi
    ·2023-02-11
    👍
    Reply
    Report
  • CHEWYY
    ·2023-02-11
    thks
    Reply
    Report
  • 黑目客
    ·2023-02-11
    ok
    Reply
    Report
  • Alkid
    ·2023-02-11
    Ok
    Reply
    Report