FITX gained roughly 10% on the day yesterday, and now has some untraded-upon news that hit the wires this morning.
If you recall, we outlined a tentative agreement between FITX and GroLife, Inc (PHOT) wherein PHOT’s joint venture with CANX USA, Organic Growth International, LLC (OGI) was said to have struck a series of agreements with CEN Biotech, a partially-owned subsidiary of FITX. The end-goal of these agreements is to establish the world’s largest legal cannabis production facility.
Today, a new name enters the fray, as FITX has announced its partnership with RXMB, Inc. RXNB Inc. is in the field of THC research and development, and has the technology to supply cutting-edge growing technologies for marijuana.
MADISON HEIGHTS, MI / January 31, 2014 / ACCESSWIRE / Creative Edge Nutrition, Inc. (FITX), is proud to announce that it has entered into a licensing and operating agreement with RXNB Inc. RXNB Inc. has a portfolio valuation of $110 million dollars and approximately $27.5 million dollars in annual revenue. It represents a recent merger of a multitude of independent companies in the pharmaceutical and nutraceutical space. >>>FULL PR
Links to Some Relevant Articles:
Seven Companies Capitalizing on Canadian Cannabis
Marijuana Equipment Gives GrowLife a Buzz
Infinera Corp. INFN
INFN appeared in yesterday’s Extended Watchlist, and produced a performance that provided us with a solid gain opportunity. This is a stock that had been on a steady downtrend until Wednesday when its bottom bounce caught our attention. The stock would see a daily low of 8.10 before running to 9.16, a 13% move.
As you can see on the chart below, conditions are still looking pretty favorable for INFN, with an RSI rising sharply toward the powerzone, and a MACD Cross in the making. Yesterday saw the filling of a recent gap, and we’d like to see support hold above 8.50 in order for this play to keep our interest.
Extended Watchlist:
ZNGA, VRNG, BLDP, ARAY, HPJ, CMG