Green Innovations Ltd. (OTC:GNIN) Stages a Comeback
Green Innovations Ltd. (OTC:GNIN) had an active Friday and recovered some more ground. So far the 8-K filing has been enough for the company to regain some of the lost confidence on the market.
GNIN added another 25.53%, closing at $1.18 per share, and recording the third highest volume since it started trading actively in February. While this is nowhere near the highs from the previous month, it’s more than what a lot of other pumped stocks have managed.
As mentioned in the previous article, the exhibits filed with the 8-K form show purchase orders and are proof that the company has generated revenues. However, there is still no way to know whether those sales are bringing profits for GNIN. This doesn’t mean that they don’t, but it’s still a question which is important before making any valuation of the company.
The promotional activities haven’t stopped and the paid pumpers are still very much engaged in touting GNIN. They are still talking about the target price of the paid report and inspired by the recent resurgence of GNIN, they go as far as doubling that target.
Some readers have pointed out that this is just advertising and it’s not necessarily bad. At first blush this may seem to make sense. However, that point of view fails to take into account that in this case, the advertisement is not pushing the product of the company, but its stock. It’s also a bit strange that an unrelated third party would pay 2.6 million Euro to pump a stock if it’s not a part of a scheme.
This begs the question, why would a company which is breaking milestones and supposedly growing rapidly need to advertise its stock? It’s also a strange timing decision to go bragging about business performance before you can show a financial report.
Adding those to previous concerns about the way GNIN has been set up, just makes for a very questionable situation. A situation in which a lot of investors may get burned. At this point it’s not clear where GNIN may go in the long run, and even in the short term there is a lot of risk associated with this stock.
