With Wednesday being somewhat of a slaughtering on the OTC Markets, one penny stock really stood out head and shoulders above the rest of the crowd. Creative Edge Nutrition, Inc. (FITX), aka CEN Biotech, Inc., although it closed the trading session lower than the open price from this morning, held it’s ground strongly on news of their part in the world’s largest and most advanced legal cannabis production facility. Because of it, FITX stock set a new 52 week high and, considering the massive market pullback, could be setting it’s sights on new found territory – a dime!
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FITX Stock Quote
Market Cap: 184.54M
Last: 0.054 ▲ +0.008 (+17.39%)
Dollar Volume: $10,826,752
Issued and Outstanding: 3,417,417,549
14-Day Rel Strength: 78.29%
1st Resistance Point: 0.0626
1st Support Level: 0.0478
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Since the last 2 trading sessions of 2013, the best-performing penny stocks have been linked directly to medical marijuana in one way or another. FITX stock is up 2,247.83% since December 27, 2013 and the fact that a new 52 week high was set today only implies that, although it appears that this entire sector is nothing more than the latest bubble with the recent gains set up to quickly evaporate, collaborating with GrowLife, Inc. (PHOT) to be capable of producing as much as 1.3 million pounds of medical marijuana annually is not something to be overlooked.
Creative Edge Nutrition is already a superb company when you look at them strictly from a muscle and fitness point of view. Growth in the health and fitness markets has been so strong over the last 18 months that without having entered into the marijuana sector, FITX could have sustained themselves albeit at lower levels than where they are today.
However, since they are in bed with one of the best companies in the sector, Growlife, the report detailing how Creative Edge Nutrition’s partially owned subsidiary, CEN Biotech, has been working under the inspection and authority of Health Canada, completed the extraordinary governmental processes in Canada to receive approval to begin constructing their state of the art medical marijuana facility in the City of Lakeshore, Ontario, Canada, screams only one thing – BUY!
Today, a ton of new money flocked towards FITX stock allowing for many traders who already owned shares to execute a trading philosophy which is becoming more and more popular when it comes to marijuana stocks – sell half when you’re up 100% and ride the “free shares” for the next decade. It might be a little over optimistic to think in terms of a decade from now, especially since FITX is going to have to RS their stock if they plan on raising any funds to build this facility, but to think FITX hits a dime in the next few weeks is something every trader can see happening after today’s strong performance.
About FITX Stock
Creative Edge Nutrition, Inc. is a development stage bio-science company engaged in the development and sales of nutraceuticals and health supplements.
Last 5 Trading Sessions:
Only 5 of the top 20 traded penny stocks ended their session in green today with PHOT and FITX ending 3rd and 4th, respectively, in total trades executed. Let there be one whisper of positive commentary to come from the government in regards to cannabis and your seat belt had best be buckled for a ride on FITX stock which can only be matched by driving an Enzo Ferrari on the Autobahn.
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