Totally Green (PINK:TLGN) stock is gaining value since the company announced the United States Department of Interior is now using their Ingeo Green Bottle Spring Water in their new cafe.
The financial impact of this new contract wasn’t disclosed and still the contract made a huge impact on the low priced stock. With no way to confirm the exact financial benefits though, the stock price should soon return near the short term average of 50 cents, or trade slightly above it, as happened a couple times this year already.[BANNER]
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TLGN share price has been rallying since November 9, and had a tremendous trading volume on Thursday, with a failed follow up indicating the rally has overextended and the price is likely to go down from here on. Market cap is currently over $22 million – way too large for a business that has only recorded losses and retains a leveraged balance sheet.
TLGN supplies bottles that can be decomposed or recycled. They have only recently changed their name after Naturally Iowa, Inc. acquired Totally Green, LLC. Their current financial situation is not clear due to the acquisition and general lack of disclosure as the Pink Sheets listed company doesn’t file with the SEC.
