Can Creative Edge Nutrition Inc. (OTCMKTS:FITX) Make A Comeback?
Creative Edge Nutrition Inc. (OTCMKTS:FITX) managed to bounce 24.44% yesterday on account of making yet another boastful announcement – but can it maintain its upward course, or even retain its gains?
Investors really need to take a couple of things into account when dealing with FITX. This is a company with a long and controversial history. It was one of the most popular companies on the OTC Markets pinksheets tier during the marijuana rush of 2014, in spite of having no achievements to speak of. The company’s latest financial report showed a pretty unimpressive picture. Suffice it to say that back then, the situation was even worse – but that didn’t stop FITX from spewing PR after meaningless PR and whipping investors into a frenzy at every opportunity.
The company’s charts at the time as well as its newsfeed speak volumes in and of themselves. But what did those BILLievers that committed to FITX stock get at the end of the craze?
Not much, it seems. Health Canada shot FITX down and didn’t give the company a license to grow marijuana. The ticker fell back into near-illiquid obscurity which it barely leaves nowadays. What’s noteworthy about this whole turn of events is the fact that by the time of the management change that followed, the company’s now ex-CEO Bahige “Bill” Chaaban had already sold $5 million worth of his own FITX stock.
We provided detailed coverage all throughout these events, and while there is much more to say on the matter, it would probably be for the best to let investors do their own due diligence and form informed opinions of their own.
The bottom line is this – even if we neglect to take into account who profits from the rise in the price of FITX stock, the simple fact remains that FITX has never managed to rise on actual merit. Its gains are almost universally driven by hype created by its own press releases, and since hype never lasts, FITX jumps almost always end in disaster.
Will this one be different? Well, it’s impossible to be sure, but the fact remains that in spite of the company’s bold claims, an 8-K describing the deal has not hit the web, so we’ve no way to know whether or not it even took place. And even if it didn’t, this wouldn’t be the first time that the company has misinformed or even outright lied to investors in important announcements.
Long story short – there may still be money to be made from trading FITX stock, but investors need to be on their toes and beware treachery at every turn.
