Gemini Group Global Corp (OTCMKTS:GMNI) Shares Tumble 33% on Friday

Gemini Group Global Corp (OTCMKTS:GMNI) shares were down 33.33% to $0.00020 on Friday but could be in for a bounce this week.

Gemini Group Global Corp (OTCMKTS:GMNI) shares were down 33.33% to $0.00020 on Friday and flat in after-hours trading. Shares have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $1,090.00 at 329.50 million shares outstanding.

Gemini Group Global Corp is a company that is engaged in the development, ownership and distribution of e-liquid, vaporizers and Mods. It is focused on the wholesale/e-commerce market in the vaping sector and produces vapor products through a contract manufacturer. It has manufacturing operations in California and has retail shops in Las Vegas, Nevada. Aside from that, the company has working interests in oil and gas leases in Haskell County, Texas.

Over the weekend, Gemini Group Global Corp received a grant for expansion to the tune of $700,000. This grant, which is from the Michigan Economic Development Corp, can help create jobs over three years for the company. The MEDC will also contribute to a $48 million expansion in construction a new logistics center in Bingham Township.

With its investment and operational expansion, Gemini is strategically positioned to efficiently manufacture and distribute its engineered plastic and metal products throughout the U.S. and Mexico,” said Tyler Rossmaessler of the MEDC.

US Representative Candice Miller also applauded this grant, citing that it is a welcome boon for Huron County and the State of Michigan.

Gemini Group’s investment demonstrates its commitment to the Thumb region and underscores the advantage of locating in Michigan, the center of the global automotive industry where more than three-quarters of all auto-related research is conducted, and 63 of the top auto suppliers call home,” Rossmaessler added.

He explained that in order for Gemini Group Global Corp to attract and retain high-caliber business, it must have a successful collaboration among government units that focuses on creating a business-friendly environment, fostering job creation and private investment.

 

DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.

Edward Tarpin likes fishing, beer and small caps with healthy balance sheets. He can usually be found somewhere in between a 10Q and a 10K, and is the go to guy for risk management driven portfolio construction.

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