Medical Marijuana Inc (OTCMKTS:MJNA) Penny Stock Roller Coaster – The Oracle Dispatch
Medical Marijuana Inc (OTCMKTS:MJNA) is a penny stock that’s been on quite a ride of late. It found support in the $0.04/share area in August before going on an adventure higher to test the waters about 500% higher in the $0.25/share area. And then it headed back down to around $0.06/share, before more than doubling again in the next couple days.
This is one of the most widely followed stocks in the marijuana space, and it gets a lot of press coverage any time there’s something big going on in the sector. And, over the last couple months, that ‘something big’ has clearly been all about what happened on November 8: “This sweeping passage of cannabis reform is a major win for the cannabis industry,” said Chief Executive Officer of Medical Marijuana, Inc. Dr. Stuart Titus. “The voters have spoken and they’ve made it clear that they are ready for cannabis reform.”
Medical Marijuana Inc (OTCMKTS:MJNA) trumpets itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.
The company licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.
In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.
Medical Marijuana, Inc. was formerly known as Hemp