Many marijuana stock enthusiasts used to believe that once nation-wide legalization started, American Green Inc. (OTCMKTS:ERBB, ERBB message board) would be in a perfect position to capitalize on that market. However, the company’s practice of over-promising and under-delivering has all but smothered that belief – which is reflected in ERBB‘s headlong tumble to the bottom of the charts.
As the charts indicate, yesterday’s 7.82% fall was just one in a long line of crashes that has plagued ERBB since mid March. But what can the ticker do except crash from $0.08 all the way down to $0.0165 (where it is now) when the company is yet to deliver on any of the promises it has made to its investors so far?
As of now, ERBB has declared that it will “roll-out” on at least three different occasions. On May 21, ERBB was to begin “Shipping ZaZZZ Next Week to Four Dispensaries in Three States”. That did not happen. Then, on June 23, it was to “Begin Shipping to Dispensaries Nationwide” again. That did not happen either. ZAZZZ machines were also supposed to start to “Drop in Denver” a week after ERBB’s July 17 press release. Again, to no one’s surprise and everyone’s disappointment, nothing of the sort happened.
Instead of “dropping” actual working units of the vending machines, three days after the supposed date of the “drop” ERBB announced that “it has rolled out statewide expansion in Colorado”. Said announcement was greeted with some enthusiasm… until investors took the time to actually read further into it and discovered that it did not say anything about the fabled ZAZZZ machine – again, to the disappointment of anyone who’s keeping an eye on ERBB.
Presently, there are quite a few rumors circulating online, as to why the fabled ZAZZZ machine hasn’t “dropped” in dispensaries yet. Some ERBB supporters claim that “they are waiting for a custom skin to be applied” to the ZAZZZ. To that, a perceptive member of the community said “gee even if it was “painted on” by Diego Rivera would have been done already” – and he was probably right.
As online discussion indicates, as more and more time passes without any results, ERBB is fast losing supporters. If this state of events continues, it may well turn out that “It will be back to .0011 and everyone who is now holding will see their investment turned to dust”, as one of the company’s former supporters stated with obvious disappointment.
As things are going, it looks lore and more likely for that prediction to turn out to be accurate.
Another OTC Markets marijuana stock that didn’t do particularly well in yesterday’s trading session is Creative Edge Nutrition Inc. (OTCMKTS:FITX).
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