Green Innovations Ltd (OTCMKTS:GNIN) has seen a recent increase in volume and price after the stock hit a low of $0.006. Investors are hoping this marks the reversal as the stock has been in a long downward drift in recent months since it popped to over $0.15 per share earlier this year.
The recent massive increase in volume comes as the entire Cannabis sector heats up again with Marijuana legalized in Alaska, Oregon and Washington DC. The sector had cooled down significant in March of this year after CANN was halted.
When GNIN 1st starting trading on the OTCBB the stock was promoted by Brighton Markets aka World Street Fundamentals responsible for the highly successful IDNG and the much less successful PUNL.
Green Innovations Ltd (OTCMKTS:GNIN) through its wholly-owned subsidiary, Green Hygienics, Inc. is the exclusive licensed North American distributor of American Hygienics Corporation’s 100% tree-free bamboo-based product line, including personal care and paper-based goods. The marketplace for tissue paper products, diapers, wet wipes, feminine care products, and adult care products, is in excess of $29 billion annually in the United States.
The Company is committed to providing consumers with quality products that are designed and manufactured to the highest standards in FDA-accepted manufacturing facilities without compromising product performance. Green Innovations is a member of the International Green Energy Council (IGEC) and dedicated to ensuring a more healthy and sustainable planet. Green Hygienics represents the following brands:
On October 28 GNIN announced that it has signed ShopRite supermarkets, and received its first purchase order, for its line of natural consumer paper products. New Jersey-based ShopRite has over 250 supermarkets in the northeast US, and is the largest retailer-owned cooperative in the US and the largest employer in New Jersey.
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ShopRite is a subsidiary of New Jersey-based Wakefern Food Corporation. Wakefern and ShopRite together employ more than 50,000 people throughout New Jersey, New York, Connecticut, Pennsylvania, Delaware and Maryland. Founded in Keasbey, New Jersey in 1946, Wakefern also owns and operates PriceRite, a supermarket chain in the northeast US with over 50 stores.
The Company’s products, through its Green Hygienics brand, are authorized for distribution throughout all of ShopRite supermarkets in New Jersey, New York, Connecticut, Pennsylvania, Delaware and Maryland markets.
“ShopRite is a terrific retail partner with a large and loyal member-customer base, which will greatly expand our footprint in the northeast US,” said Jeff Thurgood, GNIN CEO. “Adding ShopRite to our growing network of retailers, and building a relationship with Wakefern, provides an expansive distribution platform for the Green Hygienics product line — starting with our ever popular Clearly Herbal(R) Baby Wipes.”
Conclusion: GNIN has seen a recent explosion in price and trading volume after the Company announced they had received its first purchase order from ShopRite supermarkets, for its line of natural consumer paper products. This represents significant news for GNIN who is already doing significant revenues reporting $768,867 revenues for the three months ended June, 30, 2014 an increase from $437,940 for the same period the year before.
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Currently trading at a market valuation just under a million investors are giving GNIN a second look. As the stock has established $0.006 as the low and looks to be reversing off this point. Although GNIN does big revenues the Company is losing money which has resulted in steady and significant dilution; over the past 12 months alone the OS has risen from under 35 million to current 84.8 million. At Current valuation however GNIN looks attractive and seems to be under accumulation. The stock deserves to be on investors watch lists here and might just provide spectacular trade opportunity in the coming weeks and months.
Disclosure: we hold no position in GNIN either long or short and we have not been compensated for this article.