Hempacco lights up after reporting strong revenue growth
12/10/2022 15:30
** Shares of hemp-based cigarette maker Hempacco HPCO.O up
~55% at $3.39, hits its highest in a month
** HPCO says revenue for six months ended June 30, 2022
increases about 486% YoY to approx $2.8 mln
** Co's collaboration with HBI-Raw launched Q4 2021 was a
key revenue driver in the first half; product deliveries from
initial collaboration and $9.2 mln purchase order have been
under way since Jan 2022
** Co made its debut over a month ago, shares have fallen
~44% from IPO price of $6
(Reporting by Shashwat Chauhan in Bengaluru)
((Shashwat.Chauhan@thomsonreuters.com))
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