In this article, we discuss the 5 cheap hemp stocks Redditors are buying. If you want to read our detailed analysis of these stocks, go directly to the 10 Cheap Hemp Stocks Redditors are Buying.
5. Western Sierra Resource Corporation (OTC: WSRC)
Price as of August 16, 2021: $0.0769
Western Sierra Resource Corporation (OTC: WSRC) is ranked fifth on our list of 10 cheap hemp stocks Redditors are buying. The company is headquartered in Arizona and makes and sells products made from industrial hemp. It was founded in 1907 and has a market cap of over $2.6 million. Some of the products it sells include creams, salves, ointments, tinctures, beverages, and organic jams, among others. The firm was previously known as Western Sierra Mining before it changed the name to Western Sierra Resource Corporation in 2018.
In September last year, Western Sierra Resource Corporation (OTC: WSRC) had announced that it had signed an exclusive partnership with Global Hemp Group to create an agro-industrial zone in Colorado for the production of herb and fibre from hemp cultivation.
On June 22, the share price of Western Sierra Resource Corporation (OTC: WSRC) jumped 192% after it announced that it had entered negotiations to acquire a majority stake in Silver State Mining Group, a gold mining company.
4. Creso Pharma Limited (OTC: COPHF)
Price as of August 16, 2021: $0.1010
Creso Pharma Limited (OTC: COPHF) is an Australia-based company that makes and sells hemp products. It is placed fourth on our list of 10 cheap hemp stocks Redditors are buying. The company was founded in 2015. It has a market cap of close to $120 million and posted $1.8 million in revenue last year. The company markets nutraceutical products for human and animal health. It has operations in Europe, Asia, and North America. Some of the products it sells include anibidiol and cannaDOL, among others.
Some of the nutraceutical products Creso Pharma Limited (OTC: COPHF) sells include cannaQIX, a hemp oil-derived food supplement. The firm markets this product under the Cannamics brand.
The 52-week price range of Creso Pharma Limited (OTC: COPHF) stock is between $0.003 and $1. The average volume is 110,916. The stock has returned more than 200% to investors on the Canadian stock exchange over the past twelve months.
3. Avicanna Inc. (OTC: AVCNF)
Price as of August 16, 2021: $0.7000
Avicanna Inc. (OTC: AVCNF) is a Canada-based company that markets plant-derived cannabinoid-based products. It is ranked third on our list of 10 cheap hemp stocks Redditors are buying. The firm was founded in 2016 and has a market cap of over $35 million. The products sold by the firm are used in the medical, consumer health, and pharmaceutical industries. Some of these include cannabinoids, feminized seeds, and others. It also makes and sells skin care products and cannabis products for use as a therapy.
On March 23, the share price of Avicanna Inc. (OTC: AVCNF) jumped more than 2.3% after the firm announced that it had signed a deal with VB Brands California for use of the Viola brand in some specific formulations marketed by the former.
The 52-week price range of Avicanna Inc. (OTC: AVCNF) stock lies between $0.58 and $1.26. The average volume is 1,795. On August 11, the firm announced that it had entered into an agreement with Heritage Cannabis Holdings for commercialization of CBD-based products.
2. Good Hemp, Inc. (OTC: GHMP)
Price as of August 16, 2021: $1.19
Good Hemp, Inc. (OTC: GHMP) is placed second on our list of 10 cheap hemp stocks Redditors are buying. The company operates from North Carolina and was founded in 2007. It makes and sells natural and functional hemp-derived consumer products. Some of these include Good Hemp 2oh!, CANNA HEMP, and CANNA, among others. The firm was previously known as Lone Star Gold. It has a market cap of $26 million and posted more than $73,000 in revenue in the first quarter of 2021.
On June 16, the share price of Good Hemp, Inc. (OTC: GHMP) soared by over 53% after it announced plans to purchase Sacred Leaf, a company that operates a processing and packaging center for wellness products.
In April, Good Hemp, Inc. (OTC: GHMP) had reported positive momentum on sales after the firm closed the purchase of Diamond Creek Group and started offering the products of the firm on ecommerce marketplaces like Amazon.
1. Calyxt, Inc. (NASDAQ: CLXT)
Price as of August 16, 2021: $3.55 per share
Calyxt, Inc. (NASDAQ: CLXT) is ranked first on our list of 10 cheap hemp stocks Redditors are buying. The company is based in Minnesota and markets plant-based solutions. It has a market cap of $132 million and posted more than $23 million in revenue last year. The company was founded in 2010. At the end of March this year, the firm had nine projects in various development stages across the plant industry, including hemp. The short interest on the stock is more than 4%.
In earnings results for the second quarter, posted on August 5, Calyxt, Inc. (NASDAQ: CLXT) reported a revenue of close to $12 million, up 415% compared to the revenue over the same period last year and beating estimates by $4.4 million.
At the end of the first quarter of 2021, 5 hedge funds in the database of Insider Monkey held stakes worth $1.1 million in Calyxt, Inc. (NASDAQ: CLXT), up from 4 in the preceding quarter worth $1.3 million.
You can also take a peek at 12 Best Marijuana Stocks to Invest In and 13 Best Hemp Stocks to Buy Now.
