Rooting for ECO2 Plastics, Inc. (EOPI)
My wife, 4 small children and I are very eco-conscious. Not obnoxiously so, but we believe in the mantra; reduce, reuse and recycle. Every Sunday night, I am down in the garage cutting up cardboard and loading the recycle bins. I feel good because I am doing my “civic duty” to help the environment. What I didn’t realize until I started doing research about EOPI, a sub-penny stock, was that I am not as “green” as I thought. One of the dirty little secrets of the recycling industry is that the average recycling plant uses 1000′s of gallons of water daily and most flush that water (contaminated with detergents and solvents) into the waste stream.
EOPI has come up with a new process to recycle plastic that uses NO water and releases no harmful toxins into the waste stream. he company has developed an exclusive patent allowing them to wash the plastic in a combination of recycled corn syrup and sugar beats and then liquid carbon dioxide. Check out their site.
I try to stay impartial and objective when I blog about a company, but I am rooting for these guys. Putting my boosterism aside, I think that this stock is worth taking a look at. It has been beat down of late and has a bounce just waiting to happen. How far they bounce is dependent on several things: positive PR and its chart.
Let’s look at the chart:
The chart is painful to look at if you were a current investor in the stock, but for nimble traders (like you and me) it represents opportunity. It is clearly oversold and should be looking to bounce off this bottom soon. At $0.009, the stock is a sub-penny and very volatile.
The wild card has so much to do with what this company can generate in the way of good news. Like many small companies, they have going concern issues. News of stimulus monies awarded or goverhment grants would rocket this stock. Orders and backlog PR would impact this stock greatly. The volume is strong for this stock (OVER 1 MM shares traded yesterday)…I would assume mainly sellers. But, when the buyers come back this stock will zoom….if they come back.
I am actually surprised that the company has not put out more PR. I have a call in to the company to get more info…I’ll keep you posted.
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