Converted Organics (COIN) Gets Home Depot Deal

Converted Organics (COIN) rocketed nearly 20% today on news that some Northeast Home Depot stores will carry its organic fertilizer for the spring 2009 season.

“The Home Depot® opportunity represents a tremendous chance to expand the availability of high-quality organic fertilizer to consumers,” said Edward J. Gildea, President of Converted Organics. “That The Home Depot® would agree to carry our Lawn and Turf fertilizer is a significant event for Converted Organics. We are completing the steps necessary to enable our product to be carried in 64 stores in the northeast, and we expect to receive a completed order for product in January of 2009. We are committed to ensuring that this is the beginning of a long-term relationship with The Home Depot®.”

Converted Organics (COIN) is currently working on the right side of a large base and looking to retest resistance of the 200 day moving average soon.

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