The past week has been a tough one for investors in Greene Concepts Inc (OTCMKTS:INKW) and the situation remained the same yesterday as the stock tanked by 9%. That took the total decline suffered by the stock in the past week to as much as 40%.
Trading Data
On Wednesday, INKW stock fell 9.39% to $0.0084 with more than 10.27 million shares traded, compared to volume of 12.66 million shares. The stock moved within a range of $0.0083 – 0.0105 after opening trading at $0.0094.
Camping World Provides Order to Begin Shipping Over 10,000 Cases of Be Water to Jackson Mississippi
That being said, it should be noted that despite the fall in the stock price yesterday, Greene Concepts actually made a fairly positive announcement that investors ought to look into. The company announced that it had received an order for 10000 cases of its product BE WATER from Camping World. The cases are going to be sent to Jackson, Mississippi for providing assistance to the water crisis in the city which has left the entire area without running water.
The water crisis has been a crippling one for residents of Jackson. At this point in time, there is no water in the city for such needs as flushing the toilet or for washing hands. It should however be noted that there had been concerns about the water system in the city for quite some time and eventually the catastrophic crisis hit. Greene Concepts is sending the cases in around seven truckloads.
Key Quote
Lenny Greene, CEO of Greene Concepts, stated, “I am extremely moved by the huge generosity of Camping World to provide the residents of Jackson some immediate relief by contacting us to provide life sustaining drinking water for immediate shipment. Our heartfelt thoughts and prayers go out to the people of Jackson during a crisis that most of us cannot even imagine. The generosity that Camping World has shown in humanitarian relief efforts time and time again goes beyond compare. I encourage everyone on their next visit to Camping World to thank all the associates for being part of such a great caring company.”
Technical Data
INKW stock is trading above the 50-Day and 200-Day Moving averages of $0.0074 and $0.0078 respectively. However, the stock is trading below the 20-Day moving average of $0.0114. The company has a total market capitalization of $17.82 million.
