Hempacco ( NASDAQ: HPCO ) skyrocketed in its IPO open as investors showed strong early interest in the hemp-based cigarette maker.
Shares of Hempacco soared 470% to $34.20 after the IPO was priced at $6 per share. At its high point, HPCO was swapping hands at $41.80 per share.
The company has stated that it now has the platform to accelerate the execution of its business plan due to much easier access to growth capital, a strengthening board of directors and management team and the ability to use its shares as a currency to enter into strategic acquisitions.
Hempacco was listed in Seeking Alpha's Stocks to Watch article last weekend.
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Hempacco jumps more than 400% in IPO opening trades