Green Endeavors Inc (OTCMKTS:GRNE) Corrects After Impressive Surge

[[tagnumber 0]][[tagnumber 1]]The last time we covered Green Endeavors Inc (OTCMKS:GRNE) was a little more than two years ago when pumpers tried to revive the company stock. That endeavor failed and so did the effort from April last year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company stock has had its ups and downs recently, but the general direction in which it has been heading is down. [[tagnumber 6]]GRNE[[tagnumber 7]] has been trading in double zero land for quite some time now and it is getting closer to the triple zeros. Their latest financial report isn’t working much in the company’s favor either.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $154 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $338 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $1.11 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $701 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $277 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Compared to the same period last year the numbers don’t look so good. Revenues have dropped from by around $130 thousand while the net loss has increase by $160 thousand. That, however, didn’t stop [[tagnumber 6]]GRNE[[tagnumber 7]] from recording a massive 60% gain last Wednesday when it finished the session at $0.0032 per share for no apparent reason.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The next day, however, [[tagnumber 6]]GRNE[[tagnumber 7]] got a serious correction that wiped nearly all of the gains. The ticker lost some 31.25% of value in Thursday’s session, but the volumes were still small. Then, on Friday the company decided it was time to issue a press release commenting on the results and the current developments.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company’s CEO, Richard Surber said that their “[[tagnumber 38]]stylists and service providers continue to be at nearly 100% capacity with regard to the number of guests they can service per day[[tagnumber 39]]” which sounds very comforting if it wasn’t for the decrease in revenues and the increase in net loss.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And it wasn’t surprising that all the PR managed to do was crank up the volume. The company stock dropped another 9.09% and finished the session at $0.002 while a total of 51.63 million traded shares generated $120 thousand in daily dollar volume, the biggest [[tagnumber 6]]GRNE[[tagnumber 7]] has seen in quite some time.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In conclusion, [[tagnumber 6]]GRNE[[tagnumber 7]] is a risky stock that has very low liquidity and should be approached with caution. Doing your due diligence and weighing out the risks before putting any money on the line is absolutely crucial.[[tagnumber 2]]