Hempacco shares smoked on day 2 after IPO surge

Hempacco Co

31/08/2022 20:59

** Shares of hemp-based cigarette maker Hempacco  HPCO.O 
down 34.4% at $5.10 and now below $6 IPO price in second day of
trading
    ** HPCO lit up as high as $41.8 in debut on Tues before
finishing session at $7.78, for ~30% first-day return
 urn:newsml:reuters.com:*:nL1N3061B7
    ** About 1.6 mln shares have exchanged hands on Weds;
roughly 4.5 mln shares traded on Tues
    ** Co sold 1 mln shares and has ~23 mln shares outstanding
post-IPO, per filing https://www.sec.gov/Archives/edgar/data/1892480/000147793222006381/hemp_s1a.htm

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))