Skinny Nutritional Corp. (OTC:SKNY) recently broke the resistance at $0.0375 and pushed straight to the sky delivering nearly 60% gain on considerably higher volume.
The enlivenment of SKNY was preceded by the announcement that the company’s products started to retail on the pacific Northwest market. “We are excited to have the Pacific Northwest region of Safeway stores as part of the Skinny Water retail chain authorizations” said Joseph Gisondi, VP of national Retail Sales. The excitement had apparently spread onto the stock market and thus pushed SKNY upwards.
Skinny Nutritional Corp. is a company which delivers and distributes nutritionally enhanced beverages. The major product of the company is Skinny Water which is offered in a wide range of flavours.
The company hasn’t filed reports since November but their most recent 8-K indicates that SKNY had entered into a securities purchase agreement with Mr. Jon Bakhshi. The later had purchased two batches of 10 million warrants which are exercisable at $0.035 and $0.04 respectively. Both batches are currently into the money which theoretically poses a threat of dilution.
The lack of a recent financial report can undermine the exaltation of the stock especially if the stimulating series of news stops as well. For now the only thing certain is that the threat of dilution by the issued warrants is looming over SKNY and no one can predict if it will take part into the coming trades.
