GrowBlox Sciences, Inc. (OTCMKTS:GBLX) Going Down Hard
GrowBlox Sciences, Inc. (OTCMKTS:GBLX)’s share prices had a terrible 24.53% fall yesterday, as it became clear that lack of governmental support may end up being the company’s doom.
In spite of its uplifting tone and claims to the contrary, judging from the company’s latest press release, the possibility of GBLX getting the cold shoulder in the future is really a big issue for the company. As it is, GBLX has already had the opportunity to get dispensary approval from the State of Nevada and failed, despite having acquired approval form Clark County and The City of Las Vegas.
Which is an unfortunate turn of events for the company and everyone who believed in it, as getting marijuana license from the state authorities is not likely to get any easier with a republican government holding the reins.
Needless to say, this puts GBLX in a very tight spot and its stock prices in a very precarious situation. That’s a fact, and although quite a few people tend to be swayed by the sweet-talking of marijuana PR, said investors would do well to seriously consider the dangers of the sector-wide crash that is currently gripping the pot-stock market, as well as GBLX‘s myriad shortcomings, before committing to its stock.