Yesterday Tranzbyte Corp. (OTCMKTS:ERBB, ERBB message board) lost another 14.71% of its market value and now barely manages to hang on to the $0.06 mark.
Some time had passed since the latest legalization news, and for a while it seemed that the marijuana rush had dissipated. Yesterday’s market session provided definitive proof that this is not the case – the market is just as volatile as ever. If anything, it’s even more treacherous than before – on this occasion the tickers of the whole marijuana branch plunged to the bottom of the charts simultaneously, for no apparent reason.
By and large, nobody in the marijuana sector was left unaffected by the mass decline. However, looking at all the companies that crashed, a pattern becomes discernible – companies that have profits or at least revenues have dropped the least. mCig Inc. (OTCBB:MCIG) and Medical Marijuana Inc. (OTCMKTS:MJNA), for instance, barely moved any more than they would on a regular day of trading. Dubious newcomers in the branch, such as AvWorks Aviation Corp. (OTCMKTS:SPLI) and Minerco Resources Inc. (OTCMKTS:MINE), on the other hand, lost over a third of their market value in that session.
ERBB was somewhere in between those extremes. It did complete its American GreenZine project on time, and its ZaZZZ vending machine’s release date is relatively close now, which is encouraging to some investors. This is, perhaps, the reason why company stock didn’t fall farther down, despite ERBB’s poor financial state.
As it is now, ERBB supporters can only hope that the company will do good on its promise this time, unlike the last. If it manages to pull through, ERBB may eventually end up on the road to recovery, and with a bit of luck – perhaps even profit. However, if the ZaZZZ project is delayed further or the fabled vending machine proves less successful than advertised, ERBB may end up heading to the bottom of the charts, fast.
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