Some pink sheets stocks never step out of the spotlight. Green Oasis Environmental (PINK:GRNO) makes no exception. Since the beginning of April, third parties have injected $277 thousand into a large-scale promotional campaign. So far, investors have received as many as 30 e-mail alerts on GRNO stock.
Although GRNO’s last corporate update popped up on Apr. 25, it was not until yesterday that the company’s stock skyrocketed 41% closing at its mid-January level of $0.112 per share. The turnover hit a six-month peak as more than 2.3 million GRNO shares changed hands, i.e considerably higher than the average trading volume of 97K. The gigantic increase in both price and volume appears to have given the on-going advertising campaign a new dimension.
Today, GRNO stock is expected to reach new heights. Whether or not this will happen, depends on the eventual success of the promotion. As it seems, investors tend to give more positive responses to the awareness programs for GRNO stock rather than to the corporate press releases. Otherwise, they would hardly have turned a blind eye to the news that came up four days ago. According to the release, subsidiary Custom Carbon Processing Inc (CCP) had now received in excess of 10 thousand barrels of slop oil intended to be “sold at optimal price and recovery”.
Obviously, investors do not seem overly enthusiastic about the slop oil idea, at least for the time being. After all, slop oil is a mixture of a wide variety of products and extracting pure oil will inevitably incur additional costs. Since the company has consistently carried out a closed-door policy with regard to its financial state, its financial capabilities remain a mystery. While GRNO recently resumed filing with the SEC, it has only adhered to 8-K forms rather than to regular financial reports.
Nevertheless, investors have proven that they can take advantage of GRNO’s dark reporting status by keeping a watchful eye on the never-ending promotional alerts in favour of GRNO stock. Given that this tactic has borne fruit for a couple of times now, it will most probably continue to thrive in the foreseeable future.
