Green Earth Technologies, Inc. (OTC:GETG) finished 2011 with a couple of spectacular sessions especially the last one. The reasons for the performance, however, are unknown.
On Dec. 30 GETG closed up 58.82% at $0.27 per share. The volume was also astounding, reaching almost 953 thousand.
As mentioned, it is not quite clear why GETG stock got all that attention all of a sudden.
On Dec. 27 the company filed a Form D for the exempt offering of securities. The total offering amount is $7.5 million and as of the filing date there were securities sold for $2 million. This could have sparked some interest, but hardly explains the huge volume or the price increase.[BANNER]
GETG issued a press release on Dec. 22, announcing a distributor agreement with a national independent oil and gas producer, but this could hardly be identified as a reason for the Dec. 30 session.
While there is no clarity as to why GETG performed so well, the very fact that it did may generate more interest. It will be interesting to see how GETG follows through.
