Creative Edge Nutrition, Inc. (OTCMKTS:FITX) Still Falling
Creative Edge Nutrition, Inc. (OTCMKTS:FITX) shed another 9% off its market value on Wednesday, on an above average dollar volume.
As the charts can attest, this is FITX‘s second step down this weak alone, and although it is not as severe as the crash the ticker experienced last Thursday, it did manage to drag company share prices all the way down to $0.018.
This is certainly not a favorable turn of events for FITX supporters, pot stock enthusiasts or opportunistic traders who wish to make a bit of money trading the company’s stock, but at the same time it’s not unexpected either.
After all, it’s not like we’re talking about an operational company with revenues that’s just going through a hard time. No, FITX is light years away from that stage – especially now, when it seems quite probable that it will not be permitted to use its Lakeshore facility to grow marijuana. Even if FITX had gotten the approval of the local authorities, it still would have taken the company quite some time to acquire all the necessary permits to start growing.
Who knows how long it will take for FITX to actually start growing under the current circumstances? One thing is certain – investor may want to not hold their breath waiting for that to happen.
Seeing as how the company doesn’t seem to be going anywhere, it’s sort of understandable why even die-hard pot-stock enthusiasts are abandoning this particular ship.