Creative Edge Nutrition, Inc. (OTCMKTS:FITX) Rebounds

After caving in and wiping 60% of its market cap last week, Creative Edge Nurtirion, Inc. (OTCMKTS:FITX) bounced back yesterday. The stock closed 27% in the green on 49 million shares traded.

There was no discernible cause for the bounce, especially considering its scope. With no new PR, Facebook posts or filings, the move is likely technical. Still, even after this nice surge, FITX is down nearly 50% from its price before last week’s crash.

There is no official word on the company’s planned course of action following the decision of the Lakeshore town council to impose new zoning bylaws. A company representative quoted by the media did mention that moving operations to another town was on the cards but there has been no official statement on the subject, even though the town of Tecumseh keeps coming up.

Meanwhile, other companies licensed under the Health Canada MMPR are doing steady progress. Yesterday Bedrocan Cannabis Corp. (CVE:BED) published a press release informing the company reached $1 million in revenues within its first three quarters of operations and serves 1400 registered medical cannabis patients. FITX, on the other hand, has a facility that will likely need re-inspection due to the lack of actual growing pods on the date of the original inspection and has newly-arisen issues with zoning.

Any reaction on part of the company will be better than keeping quiet about the zoning matter in Lakeshore. Whether FITX decides to take this to court or simply opts to relocate its operations, this only means protracting things further in time. How the price will behave in the meantime remains to be seen.