Back in late-April, China Organic Agriculture, Inc. (PINK:CNOA) started what seemed like an attempt to go back to more impressive price levels. However, it happened on moderate volumes and couldn’t hold long.
Last Friday, CNOA managed a 4.29% increase to $0.073 on 1.2 million shares traded. Today the session starts closer to the $0.08 mark.
It’s not really a wonder CNOA lost a lot of its value. It fits pretty well with the kind of companies that are not too appealing to traders now.
An OTC traded Chinese company that reported huge revenues in the millions, the company had a period of numerous changes in the management with very brief intervals, which didn’t seem to help the situation much.[BANNER]
To top it off, CNOA has failed to publish a 10-Q and a 10-K. This alone is enough to cause some doubt in investors. At the same time, there are those who still believe CNOA will not be the next in line of Chinese “bad eggs”.
Filing those financial reports could help calm down some shareholders. At any rate, CNOA may have to do something about its market performance if it is to make a more serious bounce back.
