China Clean Energy Inc. (CCGY.PK) Stock Going Down
I have already told you about China Clean Energy Inc. (OTCBB: CCGY). This time i would like to talk about some recent events. On November 14th, the company announced the results of the third quarter:
- Revenue totaled $4.1 million, down 24.9% from the third quarter of 2007.
- Gross Profits totaled $ 0.9 million, down 39.1% from the third quarter of 2007.
- Operating Income totaled $262,452 down 72.4% from the third quarter of 2007.
- Net Income during the third quarter of 2008 was $401,699, or $0.01 per share.
As seen above, the results were not so good. Therefore, the stock price has been going down after this announcement. It is trading at $0.21 per share at this moment. I wonder what could drive this stock up again.
