On Friday, the stock price of American Green Inc (OTCMKTS:ERBB) started trading session on a weak note and declined more than 2% to close at $0.00870. It made an attempt to erase the losses only to fail again and close in red. Share volume was 13.96 million, compared to the average volume of 29.49 million.
There is no press release or latest buzz surrounding American Green. It is one the prime reason the stock prices are unable to sustain at higher levels. The paid pump that was introduced on March 15 has lost its steam. In fact it resulted in a sharp decline of 12% after the pump was circulated in the market. The decline was well supported with heavy volume of 47 million shares.
The product rollout
From past few weeks, American Green is reflecting a low profile as it is preferred to report promising non-news through emails sent to subscribers. Most of the emails highlighted the CARERS Act. Also, it revolved around the launch of ZaZZZ machines which the company claims to be really happening.
American Green Inc (OTCMKTS:ERBB) introduced the ZaZZZ machines three months ago in December. As per the update given on social media page, the company has activated the machines on two locations. The latest press release informed that machines with updated software and product imagery have been linked to the internet. As the required work is completed with these two machines, they are termed as fully activated.
The real concern
American Green stated that machines are active as the small text mentioned at installed location on the site reads they are ‘online.’ However, there has been no progress made since the time the two locations were reported live. Also, there is concern related to the revenue as the company said that revenue generation will take some time to materialize.