Tranzbyte Corp. (OTCMKTS:ERBB) Still Going Down
While most of the marijuana sector was jumping high on hype, pumps and press releases, Tranzbyte Corp. (OTCMKTS:ERBB) slided down to $0.0136 during Friday’s session.
The last trading session brought many pioneers in the marijuana branch a significant increase in market value. Companies such as HEMP, INC. (OTCMKTS:HEMP), Plandai Biotechnology Inc. (OTCMKTS:PLPL) and Growlife Inc. (OTCBB:PHOT) were all up in that session. Sadly for its shareholders, ERBB failed to join the collective leap up – its stock registered a 6.85% fall by the time of the closing bell.
The ticker opened higher than it had closed on Thursday, but quickly started losing altitude. Although relatively stable, its course was downward bound until the very last minutes, when it tried to recover some ground, but ultimately failed.
ERBB‘s present state of decline is a classic example that not all publicity is good publicity.
The company’s continued descent for two sessions in a row is a direct consequence of ERBB‘s Wednesday evening press release. After the session, the company announced that it has failed to reach an agreement for a partnership with with PARC. Despite all the boastful planning and cheerful well-wishing it turned out that there is not going to be a joint venture between the two companies regarding the “ZAZZZ” marijuana dispensers.
The news has so far cost the company about 15% of its market value, and has the potential to bring ERBB even lower – simply because the publicity-driven hype was the only thing that was pushing the ticker upward.
Without it, the company is going to have to come up with something else to keep its market value.
ERBB stock is crashing hard even as we post this.