Greengro Technologies Inc. (OTCMKTS:GRNH) Is Still unstable
Greengro Technologies Inc. (OTCMKTS:GRNH) lost a quarter of its market value in yesterday’s session, but is well on its way to recovery in today’s early trading. So what gives?
Truth be told, this latest burst of volatility is somewhat difficult to explain. There have been no new developments surrounding the company for a couple of days now – no reports coming in, no announcements, pumps or really – anything of relevance that could have driven the ticker up or down in double digits.
True enough, the company’s latest financial report was nothing to write home about:
- Cash – $39 thousand
- Current assets – $747 thousand
- Current liabilities – $260 thousand
- Annual revenues – $569 thousand
- Annual net loss – $3.5 million
Overall, GRNH‘s cash on hand is ridiculously low, and its net loss is frightful – however, that’s nothing new on the OTC Markets. In fact, unlike most of the rabble cluttering the same sector and piggybacking to the top of the charts each time a new legal development causes a wave of hype, GRNH is actually making revenues.
Unfortunately, while it does seem to be making steps forward, GRNH‘s achievements to date are still not significant enough to cement its path up the charts, while at the same time its shortcomings are significant. Add a bit of controversy-fueled hype volatility and it should be obvious why the ticker is pulled every which way every so often.
Naturally, this creates windows of opportunity for profitable trading of GRNH stock for the most bold and enterprising investors. However, due diligence and caution are advised when making such attempts, because the risks to investors are also huge – especially now that GRNH‘s financial report has been delayed and may hit the web at any moment, throwing the ticker up or down the charts, depending on the numbers within it.
