5 Cheap Hemp Stocks Redditors are Buying

3. Avicanna Inc. (OTC: AVCNF)

Price as of August 16, 2021: $0.7000

Avicanna Inc. (OTC: AVCNF) is a Canada-based company that markets plant-derived cannabinoid-based products. It is ranked third on our list of 10 cheap hemp stocks Redditors are buying. The firm was founded in 2016 and has a market cap of over $35 million. The products sold by the firm are used in the medical, consumer health, and pharmaceutical industries. Some of these include cannabinoids, feminized seeds, and others.  It also makes and sells skin care products and cannabis products for use as a therapy. 

On March 23, the share price of Avicanna Inc. (OTC: AVCNF) jumped more than 2.3% after the firm announced that it had signed a deal with VB Brands California for use of the Viola brand in some specific formulations marketed by the former. 

The 52-week price range of Avicanna Inc. (OTC: AVCNF) stock lies between $0.58 and $1.26. The average volume is 1,795. On August 11, the firm announced that it had entered into an agreement with Heritage Cannabis Holdings for commercialization of CBD-based products.