Yesterday, Greenfield Farms (OTC:GRAS) dropped down 5% to $0. 37 even though a series of news was published in the last days and a stock promotion has just taken place.
Throughout the whole of June the trading of GRAS shares was next to none. On the one day that the stock was active, the share price dropped down to $0.15 and anchored there for the whole month.
Only recently did some signs of life appear on the stock chart. Around the beginning of July, GRAS woke up and headed upwards, which coincided with the time when the company issued its first news for the period.
GRAS kept issuing press releases in the next couple of days and on this ground its share price jumped from $0.15 to almost $0.6. In the last trading session GRAS stock made a drastic performance. It opened at $0.58, which is a 49% jump that was followed by a sharp decline to $0.26. Thus a trading amplitude of nearly 120% occurred, which provided for a plethora of speculative moves by the market participants. [BANNER]
One of the reasons for the highly volatile session was the stock promotion of GRAS that took place the same day. It was led by Wall Street Advisors who were compensated 700 thousand free trading shares for the campaign. The third party was not revealed in the disclaimer of the promo letter.
From now on it is not very clear what fate awaits GRAS stock as it seems the stock has just recently started to generate sufficient trading activity. It is also not very clear how long the company will maintain the higher trading interest, especially when the promotional effect wears off.
