Converted Organics (COIN) Surging With Volume After Reporting Same Store Sales Increase of 129%

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10:01:57 am on April 27, 2010

Converted Organics (COIN) is rocketing higher this morning with very heavy volume after announcing moments ago that same store sales increased 129%.  COIN sells its organic fertilizers at Whole Foods, Walmart, Sam’s Club and Big Box retailers. 

The company has been aggressive in its marketing campaign and credits the advertising with driving sales.  The campaign has involved in store merchandising, direct mail, magazines, email, text messages, social media (youtube, twitter, facebook, linked in) as well as sponsoring a radio garden show in 18 markets.  Now that’s what I call an aggressive marketing campaign!

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“We are excited about the various elements we have developed as part of our strategic sales and marketing efforts, and are pleased to report that its effectiveness has been reported by our distributors and within the Company. We expect to continue to drive existing results and to develop and enhance our existing campaign, and are confident that this will continue to yield measurable results for the Company, as well as boost customer satisfaction and retention,” said David Flannery, Vice President of Marketing for Converted Organics.

Shares of COIN are up nearly 10% on the news.  Shares of COIN broke out from a long down trend early this year and have recently surged back above the buck level with good volume after the company announced preliminary results indicating a 65% increase in revenues over the year ago quarter.  A breakout above the 1.27 level would be extremely bullish for COIN. 

An official earnings date hasn’t been announced, but the company should be reporting some time in mid May.

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