Marijuana Company of America Inc (OTCMKTS:MCOA) Explodes As First Products Launch – Street Register
Marijuana Company Of America Inc (OTCMKTS:MCOA) has exploded, trading up over tenfold from the middle of August as we sprint into the election just a mere 6 days away. It’s first products, under the hempSMART BRAIN moniker, have just been launched and represent a significant market opportunity for the company.
The stock is trading at almost $0.10 and has blown through its 52-week high of $0.08 a share having rallied by more than 30% on Tuesday and another 40% today on more than twice the average volume as we head into the general elections. MCOA has a low-float of which is attractive to traders because it has the potential to move higher very quickly because of the laws of supply and demand. The small float gives it the ability make explosive upside moves resulting in large gains in a short period of time.
MCOA is focused on developing products in the medical and recreational marijuana arena and on Tuesday, November 8th, voters in five states — Arizona, California, Maine, Massachusetts and Nevada — will decide whether to legalize recreational marijuana for adults. Medical marijuana is also on the ballot in Arkansas, Florida, Montana, and North Dakota. Troy Dayton, CEO of The ArcView Group, stated in the report.
“Legalization of cannabis is one of the greatest business opportunities of our time and it’s still early enough to see huge growth,” noted
With expanding marijuana legislation on the ballot in nine states, the next big winner in next Tuesday’s election could be MCOA. By 2020, legal market sales are expected to surpass $22 billion. And for states that are confronted with budget shortfalls, the potential additional revenue to be gained from taxes and licensing could be a solution. Paul Armentano, deputy director of NORML, the National Organization for the Reform