There was some suspicious trading activity in the emaciated penny stock of Nuvonyx Inc. (Pinksheets: NVNX) which needs immediate attention. NVNX stock price dropped -82.50% from its HOD, -72.80% from Friday’s closing price, at 0.014 on volume higher than its entire trading history. The volume traded. 2.84 million shares, was almost the Company’s entire public float. Activity like that occurs just before a new penny stock is about to embark on a global email alert tour and offer early traders big profits.
Get NVNX stock on the list of penny stocks to watch for Tuesday morning.
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NVNX Stock Chart
Market Cap: 1.20M
Last Trading Session
Trades: 163
Average Trade Size: 17,422
Shares Outstanding: 88.60M
Float: 3.70M
Ytd Pct Change: -92.23%
Ytd Moving Avg: 0.1049
Ytd Avg Volume: 37,127
Shortly after the market opened on Monday, Nuvonyx announced that it will be exporting AloeBoost, AloeRest, and AloeAdvanced to South Korea after gaining the approval from the KFDA. The inaugural shipment of AloeBoost has already been sent via air freight to Korea with the first container to follow in the first week of July. The Company stated that this is a multi-container order and a deposit on the 2nd container had been placed.
On Friday, the Company announced a partnership with California Plant Company to launch a retail marketing campaign offering FREE Aloe plant by mail with the purchase of one of the qualifying products from Nuvonyx. A smart plan for the plant-loving customer base the Company has in an effort to boost revenues. For the six months ended March 31, 2012, revenues were $415,518, a decline of -54.02% compared to the same six month period ended March 31, 2011 which was $903,770. The good news is that they do book revenues.
Although they reported a loss of $1,884,098 for the six months ended March 31, 2012, a large portion of that was due to acceleration of lease costs connected to the abandonment of their offices and manufacturing facilities in Carlsbad, California when relocating to Las Vegas, Nevada. According to William Mountanos, Chief Executive Officer of Nuvonyx, the reloaction will reduce the monthly expenses by approximately $38,000 per month, plus additional overhead savings.
About NVNX Stock
Nuvonyx, Inc., fka US Aloe, Inc., is listed as a vertically integrated grower, product developer, manufacturer, distributor, and marketer of Aloe Vera based products. The Company’s nutritional products feature Aloe Vera juice as an ingredient. Nuvonyx owns a 70 acre crop of organically grown Aloe Vera, which it harvests on a weekly basis and processes for juice in their 12,000 sq ft processing plant in Las Vegas, Nevada.
To view the most recent financial filings of NVNX, click here.
Bottom Line: Get NVNX on the list of penny stocks to watch immediately. Press Release Bingo predicts that when two are released back-to-back and the stock suddenly trades, something big is about to happen. The percentage change on Monday should have no effect to the rest of the week.
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