next 8.06% of its price on a traded volume reaching approximately 420 thousand shares. In fact, following the chart the stock movement has been quite uncertain recently, which definitely provokes the attention.The records show that GreenWorld has been regularly releasing positive news on its business recently. A bunch of these was published over the past month, which apparently attracted traders. Besides, as already mentioned on hotstocked.com at the beginning of this week FRXP hit a new all-time high in terms of volume. This time there were a couple of reasons for the high-trade. The first one was the stock promotion on Monday, and the second one was the announcement from Greenworld’s CEO that the company has been in the process of closing the negotiations for modernizing the Kenyan water system and its ongoing activities in Africa.
The optimistic announcements along with the stock promotion have strongly supported FRXP and the price jumps continued.[BANNER]
The most astonishing fact here turn out to be the next two promotions of the stock, which happened yesterday. According to stockpromoters.com, GreenWorld has paid a compensation of $4,500 for the coverage, though the promotions failed to push up the stock price. The next move of the company was to release a new positive announcement reporting that the American-Irish Green and Health Technologies conglomerate was extending the activities of its Carbon Trading Desk in Germany into gas trading and the market for carbon credits was worth around $136 billion last year.
Obviously, this news was another desperate effort of pumping up the stock price, this time unsuccessful. After all these press releases and promotions, FRXP is moving down again and its future movement is hard to be determined.
GreenWorld Development, Inc. engages in developing environmental and energy products with a main focus on healthcare, Carbon emission technologies and trading. According to the company’s latest 10-Q report, its financials don’t seem much promising. The net loss totals more than $170 thousand for the first three quarters of 2010 and there is no working capital as FRXP has not generated any revenues during the past couple of years. And while GreenWorld is making optimistic promises about the gas trading market, the company has no cash to begin its planned operations.
