Post-Merger Update Sends Signal To Traders

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Tuesday, June 7, 2022

A North Carolina-based company provided a post-merger update and discusses plans for the future, and traders were extremely eager to snatch up shares following the news. According to the release, the completion of the acquisition of Petro X Solutions Inc. led to the board of directors and a majority of shareholders to approve a name change to “Accredited Solutions, Inc.” This sent shares of the existing company, Good Hemp Inc. (OTCPK:GHMP) soaring as traders believe the future outlook of the company’s new venture could lead to greater upside.

Good Hemp Inc is engaged in a hemp-derived CBD-infused line of consumer beverages sold under the Good Hemp brand. The company's current products include high alkaline water products, hemp-based beverage products under the Good Hemp brand, and CBD softgels under the Good Hemp Wellness brand. Good Hemp products include two lines of hemp-based beverages. Good Hemp 2oh!, CANNA HEMP and CANNA are a line-up of refreshing, all-natural, good-for-you, ready-to-drink waters in six flavors: blueberry-blast, island coco-lime, kiwi-strawberry, lemon-twist, mango-fandango and Q-cumbermint. Good Hemp fizz is a line-up of carbonated refreshing, all-natural, good-for-you, ready-to-drink carbonated beverages in three flavors: blueberry-bam, mango-tango and citrus-twist.

Traders were extremely bullish on the news as shares quickly popped up to an early session high of $0.0447/share (+59.64%). This move could be an indication of things to come after it appears this stock has found support recently. 

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