Creative Edge Nutrition, Inc. (OTCMKTS:FITX) Thrown to the Dogs

After crashing horribly on Thursday and losing 43% of its worth in a single session, Friday saw Creative Edge Nutrition, Inc. (OTCMKTS:FITX) slump another 20% on a huge share volume. The selloff that took place in two short days sent the price of the stock 55% down.

The killing blow was assisted by yet another round of stock pumps targeting FITX that came through last week. After taking a bit of a breather in June, the pumpers returned in force last Wednesday and sent over 20 new touts for FITX in two days. After the company simmered quietly in the absence of promotions on volumes of under 10 million, Thursday and Friday saw a frenzied fit of selling. In the last two sessions nearly 500 million FITX shares changed hands.

The financial situation of the company is far from stellar. As of March 2013 FITX had under $100 thousand in cash and $1.7 million in current liabilities. The announcement that the company was approved as a vendor of Amazon did very little to boost investor confidence, as the first 43% crash happened on the same day as that press announcement. The announcement that recently appointed Mr. Alaweih will be heading the nutritional advisory team of FITX also did nothing to save the stock price from falling.

FITX briefly tried to bang heads with marijuana sector big boys such as Medical Marijuana, Inc. (OTCMKTS:MJNA) but their attempt to ride the green leaf hype ultimately proved unsuccessful and did not manage to lift the share price.

Other stocks churned significant dollar volume despite their lower share volume last Friday. Those included Imageware Systems, Inc. (OTCMKTS:IWSY) and Xumanii, Inc. (OTCMKTS:XUII) who both closed green.

FITX is currently trading 5% up in the early session, at $0.0021 per share.