Green Innovations Ltd. (OTC:GNIN) Still Has Pumper Support
After taking the weekend off, the newsletters touting Green Innovations Ltd. (OTC:GNIN) resumed their work. The contract with Market Research Worldwide expired, but Investors Alliance, Dividend Seeker, and National Traders Association are still mailing on GNIN.
This didn’t prevent the price from falling another 13.29% to $1.37, after 4.3 million shares had changed hands in yesterday’s session.
The company itself, also resumed its efforts to convince the public that GNIN is more than a pump job. GNIN issued another press release before the open. The company announced an exclusive contract with Xiamen C&D Ppaper & Pulp Co., Ltd. The Chinese company should produce some products for GNIN.
This was also insufficient to turn things around. So far today, there is no new fluff release.
The pumper newsletters didn’t comment on the price movements, but instead chose to copy the above-mentioned press release. For some reason, they are still keeping the paragraph which talks about how GNIN “…continues trending toward $5.62 and beyond…” It doesn’t look very convincing while the price is falling.
On the other hand, yesterday was the fourth consecutive session in the red for GNIN. There are some people who actually believe that the company will get somewhere, and it’s possible that GNIN can get a positive close at some point, maybe even today.
Still, in the long run, the public may need a lot more than press releases and pump emails to believe GNIN can be a successful company. If the 10-Q for the first quarter isn’t as disappointing as the 10-K, then maybe GNIN can get some appreciation. However, that report isn’t due until mid-April, and there’s no guarantee the hype around GNIN can last that long.