Creative Edge Nutrition, Inc. (OTCMKTS:FITX) Sinks on Massive Sell-Off
Creative Edge Nutrition, Inc. (OTCMKTS:FITX) drifted too far, and ended in a massive exodus of sales, losing more than 43% to $0.0025. What will happen at the end of the week is unknown, and at double-zero levels, FITX will most probably turn into an unpredictable day bet, unable to form a trend of recovery. 
The nutrition supplements company announced it was approved as a merchant with Amazon, but this is just a minor issue, as it will now compete with earlier arrivals on the overcrowded supplements market. The company also tried to ride the hype of medical marijuana, by creating a couple of last-minute products. 
Financially, FITX is strangely solid, given its shaky ticker price:
- $8.4 million cash as of March 2013, from Zero in 2012
- $20.5 million total assets
- $13.3 million total liabilities
- $24.9 million sales
- $7.3 million net loss
It seems the company has ramped up its activity, holds significant debt, but so far is going on, except for the stock, quite depressed after a series of promotions that left the ticker to flounder. FITX went through six pumps, and after each one got down to worse and worse levels.
The company became more active in the medical marijuana sector in the Spring, competing with bellwether Medical Marijuana, Inc. (OTCMKTS:MJNA) and other newcomers. A lot of penny stock companies took up cannabis as a side business, quickly offering products to benefit from the newly legalized substance. GreenGro Technologies, Inc. (OTCMKTS:GRNH) is another marijuana stock that has slid badly after the end of its latest promotions, standing at 3 cents and possibly threatening to slide down below a cent.
In the past few months, FITX relied mostly on press releases, some of them quite strange. The company announced it would use social media to impress investors, a thing almost obvious in 2013. Still, the company may have hoped to create some extra attention, though it did not translate in a better stock price.
This may be the last appearance of FITX as a more actively traded stock, as too many investors leave. At $0.0025, the stock is capable of great jumps, in case of enough valley buying, but it is best to stay away unless you can also afford it to sink further.
