Shares of water resource specialist Cadiz (NASDAQ: CDZI) have jumped 19.5% this month through Aug. 23, while the S&P 500, including dividends, is down 4.3%. That brings the stock's 2019 gain to 25.5%, versus the broader market's 15.1% return.
The catalyst for Cadiz stock's August pop was the company's announcement that it has entered the U.S. hemp market. Hemp is a strain of cannabis that contains a negligible concentration of tetrahydrocannabinol (THC), the psychoactive substance responsible for giving marijuana users a "high."
Here's what you should know.