These days, some ongoing stock promotions dug up from the summer agony the unloaded New Generation Biofuels Holdings, Inc. (NASDAQ:NGBF) stock.
After months of strong decline, NGBF stock was finally fueled and emerged from the next in row bottom.
Despite management’s devotion to lease restructuring and cost cutting, and ignoring the speculative presence during the trading sessions of NGBF stock, the strong down trend was not stopped.
Looks like the only efficient tool for the revitalizing of the company’s shares are stock promotions, since they “produced” immediate positive result.
Since the beginning of the month, maybe keeping the strong believe in the if not life-giving then optimism-giving force of the stock promoters, NGBF adds more of them every single week.
The first promotion for NGBF stock was valued at $50,000 and was paid by a third-party. Bluewave Advisors purchased 80,000 shares in the open market with the promise to sell these shares in the open market.
Last week, one more promoter was included in the promotional initiative, again compensated by a third party for a week of service. Yesterday, the third NGBF stock promoter was disclosed. This was also the day, on which the already fueled stock noted a second in row jump up.
Since Thursday and up to now, following the promotional disclosures the traded previously in the range of its 52 week-low at $0.16 stock added 11% of promotional and speculative value.[BANNER]
Thus, the announced two weeks ago amendment of the lease agreement with Pennington Partners, LLC for the company’s bio fuel production facility in Baltimore was certainly not the main factor behind NGBF upward direction. Further more, that only recent “development” was released last month.
Referring to our previous article about NGBF, it is good also to mention that in addition to the stock promotion, the presence of shorters was also strong yesterday. NGBF closed the session at $0.1847 per share on a volume, exceeding five times the average for the company. 53% of the total volume traded was short interest.
