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Wednesday, October 21, 2020

Marijuana Company Of America Inc (OTCMKTS:MCOA) Seeing Major Price Discovery

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Marijuana Company Of America Inc (OTCMKTS:MCOA) is a stock that’s been ripping higher, recently powering as high as about $0.20/share before falling back under the $0.10 level. However, that still represents a massive increase in share pricing over the past 3 months, with the company coming out of sub-penny land in manic step with the rest of the marijuana space into the November 8 vote.

The big catalyst here was that vote. The cannabis patch went wild into the ballot-casting, where we saw 8 of 9 states move to greater legalization of pot on medicinal or recreational levels. This stock advanced more than 2000% into that vote. But there was also another more proximal theme for the stock, which we will hit on below.

Marijuana Company Of America Inc (OTCMKTS:MCOA) trumpets itself as a company that operates as a marijuana marketing and distribution company. It intends to distribute a range of marijuana, CBD, and related products in the United States and internationally.

The company was formerly known as Converge Global, Inc. and changed its name to Marijuana Company of America, Inc. in December 2015. Marijuana Company of America, Inc. was founded in 1985 and is headquartered in Bonsall, California.

According to the Company’s press materials, “MCOA plans to distribute marijuana and products related to marijuana as well as CBD and hemp, using a variety of marketing approaches to distribute on a global basis.”

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As noted above, while the vote was of central importance, there is more going on with Marijuana Company Of America Inc than just that macro level catalyst: The company recently announced the inaugural product launch of hempSMART Brain on November 4. Members and non-members became able to place orders for the product on November 7, 2016 in conjunction with the launch of the full hempSMART.com website.

We have not yet seen data on the marketplace or customer response to the launch, but the company stated that, “the Company’s supply chain partners are established, inventory purchase contracts are in place, customer support centers are trained and ready to assist customers. The product is bottled, labeled and ready for shipping… The inaugural product, hempSMART Brain, is formulated with CBD or Cannabidiol as the core ingredient combined with high quality, branded ingredients to compliment the CBD to support brain health. hempSMART Brain is formulated to meet the growing demand for products with medicinal benefits that assist in brain function. This is a first-of-its-kind product with a synergistic blend of verified natural brain support ingredients, blended with water soluble CBD to provide optimal bio availability for brain support and protection.”

“The MCOA- hempSMART team have worked diligently to bring this product to market, and we are now ready to share it with the world,” said CEO, Donald Steinberg.

The end market for the product is anticipated to expand explosively in the coming decade, with the fastest growth expected in the next 1-4 years. The addition of the California recreational marijuana market along could as much as triple the legal US cannabis sales footprint. This is all spectacular news for companies in the space.

However, we saw massive share run-ups into the voting last week, and the wheat will have to be separated from the chaff. Time will tell where MCOA fits into the larger picture. However, the company has fulfilled its promise of getting to market with hempSMART brain, which is a good signal on execution.

At this time, carrying a capital value in the market of $86M, Marijuana Company Of America Inc  has minimal cash on the books, which must be weighed relative to an appreciable load ($589.68k) of total accumulated debt.

We have covered MCOA extensively over the past 3 months. We’ve witnessed just shy of 360% tacked on to share pricing for the listing in the past month. This is emblematic of the stock. MCOA has a track record that includes a number of dramatic bounces. Moreover, the listing has seen interest climb, with an increase in recent trading volume of topping 440% beyond what we have been seeing over the larger time frame. This is an exciting story with tremendous potential and we will update it again very soon. For continuing coverage on shares of $MCOA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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