Creative Edge Nutrition Inc. (OTCMKTS:FITX) Up Again
Creative Edge Nutrition Inc. (OTCMKTS:FITX) enjoyed a real climb up the charts lately – Wednesday’s session saw the company close at $0.0585, and yesterday the ticker managed to leap all the way up to $0.0719.
FITX hasn’t really shown much actual progress since we last checked on them a few days ago. They’ve come up with a single press release celebrating the impressive achievement of getting a feature article in the Detroit Free Press.
Evidently that was enough to get company officials excited. They’ve been displaying all-out optimism for some time now, with company’s CEO Bill Chaaban always talking about “huge opportunities”. His last statement that “It (marijuana) will dwarf anything in the supplement industry” was especially intriguing, because it was not backed up with any actual data that even hints at how such a thing could happen.
The company is currently building a “85,000-square-foot indoor facility in Lakeshore”. Or rather, FITX claims that it is actively engaged in building the facility – no official information on the project has been published yet, apart from a few underwhelming photographs.
Ultimately whether the construction is presently underway or not is of little importance, because it doesn’t change the fact that although FITX is talking big, it doesn’t even have the approval of the Canadian government that it will require in order to to grow marijuana legally.
The company’s plan to be ready to supply when the U.S. finally legalizes pot on a federal level also seems like a great idea that has the potential to earn the company millions of dollars. However, despite FITX‘s optimistic belief in the imminence of this event, there is no indication that said global legalization is likely to occur any time soon.
Yet in spite of the overwhelming evidence for the company’s commercial and financial infirmity and inertia, FITX stock is on the rise again – it went up 11.43% on Wednesday and 22.91% on Thursday. It is no wonder that stock commenters are getting restless.
Most companies in the marijuana sector did not do as well as FITX yesterday. HEMP, INC.(OTCMKTS:HEMP) Medical Marijuana Inc (OTCMKTS:MJNA) Growlife Inc (OTCBB:PHOT) all fought an uphill battle to maintain their market standing, if not crashing outright.