Converted Organics rises 11% on order from Puerto Rican firm
Shares of Converted Organics Inc. (Nasdaq:COIN) climbed 11.2% this morning after the company announced it has received an initial order for 66 tons of organic fertilizer from Puerto Ricoʼs Matosantos Commercial Corp.
In a statement issued before the bell this morning, Boston-based Converted Organics described the deal as a significant milestone.
Converted Organics had signed an agreement with Matosantos in March for Matosantos to act as exclusive distributor of Converted Organicsʼ organic fertilizer products in Puerto Rico.
By late morning, Converted Organics is at $4.65, up $0.44 from Monday's close. The stock has traded between $2.35 and $16.30 in the past year.
For detailed price information and news stories on Converted Organics, click COIN.
About the Author
Contributing author Mary Ann Azevedo has more than 13 years of writing and editing experience that includes coverage of a broad range of companies.
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