If you see a stock rising despite there being any news then there is no need to be surprised. It is a pretty common occurrence in the stock markets and hence, the recent rally in the Greene Concepts Inc (OTCMKTS:INKW) stock should not confound investors.
The stock was in considerable focus among investors yesterday and managed to clock gains of 13%. Yesterday’s gains took the gains in the stock over the course of the past week to as much as 45%. In this context, it might be important for investors to note that back in June the company had announced that its high grade artesian product BE WATER was going to be made available in as many as 175 locations of Camping World in the United States.
Those locations are spread across as many as 38 states and the deal market a major milestone for Greene Concepts. The numbers paint a clearer picture with regards to the full scope of the deal. The purchase order agreement that has been signed initially is going to include the commitment from Greene Concepts to deliver as many as two million bottles of BE WATER on a rolling timetable. The latest rally in the stock could have been related to this deal.
Market Reaction:
On Tuesday, INKW stock moved up 13.26% at $0.0261 with more than 33.12 million shares, compared to its average volume of 23.81 million shares. The stock had moved within a range of $0.0226 – 0.0269 after opening the trade at $0.0241. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.1500.
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