Veridium Corporation
Veridium is having a bad month! With oil prices recently declining (now back above $70 a barrel), skeptics being skeptical(Cramer) and poor quarter results it is no suprise that this stock has dropped from 30 cents a share to 11 cents. After a sloping month for all ethanol stocks, others managed to have a correction, but not Veridium. Veridium has recently been left behind as companies such as XTHN have recently been able to bounce back (stock rose 20% for two days straight). I'm not saying VRDM has been left behind in regards to competition, but meaning that the stock hasn't correlated with other ethanol stocks the past weeks in regards to the stock chart(Below). Even with great news today, as they made an agreement to acquire GreenShift's Clean Technology Investments and Environmental Engineering Company and also had a positive sales update for its ethanol by-product recovery technology, the stock still wen't down 8.33%. Veridium has tremendous potential as it has several patented technologies, but currently it is a hard read. It is a very speculative stock as you probably have heard several times. As they pointed out in its quarterly report, there are a lot of risks that the shareholders have to take in consideration, such as possible lawsuits. The future looks bright though, but the current situation looks a bit uncertain. Opinions?
Chart Comparison:
NOTE: Veridium will change its name to GS CleanTech Corporation in conjunction with the closing of these transactions, which is scheduled for on or before June 30, 2006.
Today's Index:
| Symbol | Last Trade | Change | Volume | Market Cap |
|---|---|---|---|---|
| ADM | 41.38 |  1.08 (2.68%) | 4,949,600 | 27.08B |
| ANDE | 100.61 | 3.39 (3.48%) | 507,158 | 764.54M |
| GPRE | 37.61 | 0.61 (1.65%) | 5,526 | 162.48M |
| GSHF.OB | 0.215 | 0.00 (0.00%) | 1,506,037 | 24.32M |
| MGPI | 28.90 | 0.91 (3.25%) | 544,712 | 466.71M |
| OTD | 1.57 | 0.06 (3.97%) | 998,200 | 72.90M |
| PEIX | 31.52 | 1.29 (4.27%) | 3,468,295 | 991.21M |
| STKL | 9.47 | 0.41 (4.53%) | 486,282 | 538.98M |
| VRDM.OB | 0.11 |  0.01 (8.33%) | 21,376,011 | 26.76M |
| XTHN.OB | 10.57 | 0.18 (1.67%) | 784,284 | 170.89M |
| Get a snapshot of today's market action in Market Overview | ||||
I think that if you extend your chart back out to March, the reason for the continued decline will be more apparent. The stock had the highest spike of any on your list. It's still 200% above where it was in the end of March. A 100% a month is a rather steep rally for most stocks.
Of course the right partnership could drive it right back up to 800%.
Reply to this