Organa Gardens International Inc. (OTC:OGNG) struck a new yearly high all of a sudden yesterday on the highest trading volume for the year. No news has come out about the company and OGNG has not even started its operations yet. 
The session closed with a 425% increase in the share price of OGNG at $0.021. The trading volume reached 10.7 million shares, while the highest price for the day, and for the past 52 weeks, was reached when the stock surged to $0.065. RSI entered the overbought area and is still pointing up, however, it is unlikely that another threefold increase takes place.
Traders could be expecting huge news, or could be just speculating on the expectation of huge news as OGNG was not even shorted in the preceding several sessions to say that a short squeeze pushed its share price in such a way up. Yesterday on the other hand, shorting activity was significant, representing 3.72 million shares from the total volume traded.
Latest news was the company’s quarter report for the period ending September 30, 2011. In it, management states their planned business plan would consist of growing fruits and vegetables through a rotary hydroponics vertical farming system.
It is not known when these operations would commence, or when they would make a profit. OGNG has no cash as well, but an accumulated loss of over $20 million since inception.
