CEN Biotech shows strong uptrend despite attempts by detractors to confuse new investors.
Last week, following some very positive news about the direction that Creative Edge Nutrition (ticker Symbol FITX) is taking from new CEO James Robinson, the company gained more then 100% in its stock price. There was also mention of an updated website that will make it’s appearance this week.
From a fundamental stand point, the company is extremely under valued, with a lot more potential for serious gains. From a technical standpoint, the stock is significantly over sold, with price movement that has climbed up and broke through the 20 and 50 day SMA and EMA lines. This is a very positive indicator of continued upward momentum.
In a desperate attempt to offset this positive energy, the detractors have employed another despicable ploy to confuse inexperienced investors.
Yesterday we saw several headlines from news outlets implying that Health Canada has rejected the application of Cen Biotech to grow medical marijuana. In a quick perusal of these stories, it becomes blatantly obvious that these headlines are misleading,
The articles all claim the same source, Stephane Shank, a representative of Health Canada, and a statement supposedly made to the Globe and Mail. This statement indicates that Health Canada intends to reject the application, if CEN Biotech does not respond to the rejection letter within 20 days. This means they have not rejected the application, as of yet, and the implication that they have, is irresponsible journalism.
If this letter were to actually exist, there is no doubt that the company would respond well within the allotted time. However if this letter were to actually exist, a communication about it to an outside media source would be in clear violation of Health Canada’s policy. And why bring it to the attention of a reporter that has been proven to have an agenda against the company?
Many investors have tried to make contact with this individual, but at this time there has been no response. One interesting statement that seems to have come out, includes a paragraph copied from an article that was published on June second of last year in the International Business Times. This article does not make any reference to Cen Biotech.
Considering the article perpetrating the myth of this particular document, is written by an individual who has repeatedly insulted the intelligence of his readers with misleading and inaccurate information, We must look for other sources for correct information.
At this time there have been no formal statements from Health Canada, or from Cen Biotech, to validate the existence of such a letter. Until such a statement surfaces, it would be a prudent course of action to consider such a letter non-existent.
The most recent statement that can be found about the company is a ” Notification of late filing” filed on February 14, 2015, indicating that the quarterly report will be filed on February 19, 2015. The most interesting statement in this document is the reason why the extension is needed. “Working with PCAOB auditor regarding financials for CEN Biotech, Inc. spin out from Creative Edge Nutrition, Inc.” This can only be taken as a very positive statement as to the progress of the much anticipated spin off.
At this point, an investor in Cen Biotech is well aware of the small cast of characters that seem bent on manipulating the share price through misinformation. Due to so much positive new information that’s come to light, the detractors are running scared, they are growing desperate, bringing in the bench warmers, throwing in the towel, and making a final last ditch attempt to confuse less savvy shareholders into making the mistake of selling valuable shares.
It is clear that due to the strong positive attitudes and insights of a very knowledgeable group of investors, who have worked diligently to stay informed about all aspects of the company, that there is far more potential to gain profit by following the example of investors who actually know what they are doing.
Cen Biotech is a solid company, with a fantastic management, a well diversified spectrum of projects, and many indicators that success is imminent.
Submitted by “Smart Guy One”.
Disclosure: The author has not received any form of compensation in regards to this publication. The author is FITX long.