Notch another one in the win column for the traders who had Green Innovations Ltd. (OTC:GNIN) on their radar for that first trading session to happen. After pushing those first shares out into the market on January 10, GNIN stock has been accumulating both attention and notoriety for their popular bamboo paper products. With initial buys from November turning into reorders in January, coupled with new sales agreements being announced, the “squeeze” on this toilet paper maker has yet to happen as the chart pattern is nothing short of “Sensational.”
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GNIN Stock Chart
Market Cap: 81.00M
Last: 0.81 ▲ 0.05 (6.58%)
Dollar Volume: $587,388
14-Day Rel Strength: 70.79%
14-Day Stochastic: 52.62%
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After uncovering Green Innovations Ltd. back in November as a pre-alert prior to the initial trading session, news has been flowing out with bullish reasons as to why GNIN stock is a “buy,” even after gaining 50% already. Looking back to what we uncovered initially, the breakout to above and beyond $1 could happen at any moment based on prior examples.
This week saw two fresh news announcements of significant value, an initial purchase order from Grocery Outlet, Inc., the largest grocery extreme-value retailer in the U.S., and a reorder from Vernon Sales, Inc., a leading California-based independent distributor of general merchandise and fine grocery products. While the amounts ordered were not made public, the reorder news from Vernon Sales came less than two months since their initial order — bullish buying.
The newest deal with Grocery Outlet could hold ten times the weight since the distributor has over 185 independently operated stores in Arizona, California, Idaho, Nevada, Oregon, Washington and Pennsylvania. With baby wipes products and “Sensational” branded bathroom tissue on the initial order, GNIN stock showed the exact type of pattern any long trader would want – lower than 1 million in volume and closes at the HOD in 4 of the last 5 trading sessions.
Like it or not, GNIN stock is on the march towards $1 and traders looking to receive an email alert before getting involved are going to be waiting for something which is not likely to happen. Not all penny stocks which make money for traders needs to be pumped.
About GNIN Stock
Green Innovations Ltd., through its wholly-owned subsidiary Green Hygienics, Inc., is the exclusive licensed North American distributor of American Hygienics Corporation’s 100% tree-free bamboo-based product line, including personal care and paper-based goods. Click here to view the SEC filings for GNIN.
Last 5 Trading Sessions:
Bottom Line: GNIN is a prime candidate to be a sensational penny stock in terms of dollar volume and PPS target, $2.20. Assuming no email alert campaign commences on GNIN stock in the next week, traders should take note that the 100 million shares outstanding are a sign of where this stock is headed to. The links to several extremely successful penny stocks are there to put the pieces of the puzzle together.
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