Yesterday’s session was an eventful one for Tranzbyte Corp. (OTCMKTS:ERBB, ERBB message board). Share price fluctuated in both directions and eventually settled a fraction of a percent in the red despite the media exposure the company received. ERBB closed 0.3% down at $0.056 per share.
Tranzbyte stole the daily pink sheet media spotlight, making appearances on CNBC and Fox Business yesterday. Both interviews were conducted with COO Stephen Shearin. The coverage was focused on the company’s ZaZZZ machine and its recent ‘soft launch’ and unveiling.
The effect of the media appearances was immediate and very tangible, with the Fox host humorously remarking that the very fact that ERBB was on the program made the price shuffle 10% up. The price did move up, after performing feebly in the early morning and sitting about 10% below the open before the interviews kicked it back into heavy volume and 10% over it. However, this appears to have been a momentary squeeze that cooled off quickly, with ERBB ending the session in the red, even if by a smidgen.
The CNBC interview asked one of the most important questions related to ZaZZZ – why would a dispensary want to have a vending machine on the premises? ERBB’s response was no different – to speed things up for customers who know what they want and to enable them to skip waiting lines. Whether this is enough of an incentive for dispensary owners to adopt ZaZZZ remains to be seen.
Last Thursday ERBB also announced they will share the booth space of Dixie Elixirs at the 4/20 Cannabis Cup that took place two days ago. It’s a little strange that a Medical Marijuana, Inc. (OTCMKTS:MJNA) subsidiary would share booth space with another publicly traded company in the same sector. Considering the still-pending lawsuit that Dixie filed against MJNA last year, this act of kindness may not be that strange.
ERBB also announced the launch of the American Green Clothing line. A website now sells the attire that COO Mr. Shearin wore at the unveiling of the ZaZZZ machine. This decision was obviously prompted by conducted ‘market research’ that showed a high demand for American Green branded clothing.
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