Green Innovations Ltd (OTC:GNIN) Confirmed as a Huge Pump

We suspected Green Innovations Ltd (OTC:GNIN) was pump, and those suspicions were fully confirmed last week. What’s more, it’s now clear just how huge a pump job this is.

So far, with the help of our readers, we have identified the following as newsletters touting GNIN – Dividend Seeker, Investors Alliance, National Traders Association, Traders Insight. However, there are likely others too.

The content of their emails and the disclosed compensation lead us to believe that the above-mentioned newsletters are run by the same outfit. Their recent emails talk about a “research note” by a Market Research Worldwide (MRW), which give GNIN a target price of $5.62 per share.

It’s important for potential investors to be fully aware that MRW has been paid 2.6 million Euro to make and distribute the pump report. They may also be interested to know that the money was paid by the same third party which is paying the newsletters. Additionally, the domain of MRW seems to have been created about four months ago.

Despite all the red flags, GNIN gained another 22.22% on Friday. It closed at $2.75 per share with 7.6 million shares changing hands. Today the markets are closed, so we will have to wait to see where this goes.