Green Innovations Ltd. (OTC:GNIN) Drops Off Third Pump Spike

Yesterday reality started catching up with Green Innovations Ltd. (OTC:GNIN) and the stock dropped 20% to a close of $1.06, on moderate volume.

The last pumps for GNIN came through in the pre-market hours, sent by the usual lineup of promoters, suggesting the stock would break the $2 mark this week. Instead the price went to drop a fifth and shave 27 cents off the previous close.

GNIN came up with yet another press release today in the early morning hours, hyping the reception of a repeated order from a supermarket client, quoting no numbers for the scope of the order in question. This is the second desperate press announcement coming from the company in an effort to keep the buzz alive, after GNIN informed investors last Thursday that it had completed an order in under two weeks.

Despite the constant flow of PR fluff and the best efforts of paid pumpers, the price did not manage to balance it out after its last three-day run. Yesterday’s session marked GNIN slipping from its third spike, and while three successive surges in the span of just two months is more than most pumps manage, this may well have been the last chance for this stock to run.

Those who couldn’t get enough of GNIN despite the numerous red flags and huge pump campaign targeting GNIN may keep buying the perceived dip, which may prove to be a lot more than that. Those who feel like a company should trade on positive hard information and filings instead of press hype would probably want to wait for GNIN‘s next quarterly and see if the drab financials have improved in any way – a possibility made questionable by the massive, extended promotional campaign for the stock.