Glori Energy gutted by negative Seeking Alpha article

|About: Glori Energy, Inc. (GLRI)|By:, SA News Editor

Glori Energy (GLRI -8.8%) plunges after Pump Stopper's Seeking Alpha article predicts a 76% downturn and "eventual bankruptcy and shareholder wipeout," with the company being held aloft for now only by a "last ditch effort" broker promotion.

The article says GLRI’s main product, which is based on old technology the company received essentially for free with "miniscule" R&D invested, has generated no material revenue.

The author notes a wave of investor conferences and broker promotions, which he thinks means lots of insider stock is becoming unrestricted to be potentially dumped on the market.