Geometry Dash APK Hill Climb Racing APK
51.1 F
New York
Sunday, April 18, 2021

A Technical Update on Medical Marijuana Inc (OTCMKTS:MJNA)

Must read

Grayscale Bitcoin Trust (Btc) (GBTC) Makes Big Move As Bitcoin Goes Wild

Bitcoin, the world’s biggest cryptocurrency by market cap, has been in the middle of a remarkable rally for the past few months...

Voyager Digital Ltd (OTCMKTS:VYGVF) Hits All-Time High on Download News

The remarkable rally enjoyed by several crypto assets over the course of the past months has also resulted in an increased demand...

Solar Integrated Roofing Corp (OTCMKTS:SIRC) Surges Higher On Sector Strength

The Solar Integrated Roofing Corp (OTCMKTS:SIRC) stock has come into sharp focus among investors and on Wednesday, the stock made significant gains...

Greene Concepts (OTCMKTS:INKW) Hits New High: Soars 500% in a 2-Week Span

It is a well-known fact that one of the best ways of going about investing in stocks is...

Medical Marijuana Inc (OTCMKTS:MJNA) continues to trade a bit soft. There are really two key points of comparison here that make this important. First, the stock has been relatively weak in light of how many press releases and catalysts seem to constantly be pressed into the market from the company. Second, we see plenty of other fresh new leadership taking over in the MMJ ranks that are not struggling. These are “factor-lags”, and suggest a serious for bulls on MJNA at present.

Because of this action, the market may be telling us that this stock is out of narrative power for now. Note, that is despite a relatively strong sales growth trend, which is now apparently taking a back seat. The company’s latest headline is on another positive development for its AXIM investment (AXIM has enrolled 40 patients and commenced its Phase II clinical trial for the treatment of irritable bowel syndrome with the company’s CanChew Plus CBD gum). We have noted in the past that gains for AXIM do not imply gains for MJNA stock given the nature of their mutual entanglement. Here is another case.

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. is the first publicly held company vested in the medical marijuana and industrial hemp markets.

Find out when $MJNA stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Traders will note -10% dropped out of shares in the past week, a move that comes in the context of a larger bearish trend that has begun to establish itself over the past couple months. However, MJNA has been a rocket ship often enough that we are hardly suggesting it won’t still see the occasional big white candle day. And there are still strong legislative wildcards that will doubtless carry MJNA stock in tow when the marijuana-macro trade is back on, as it was last Fall.

According to company materials, “The company is comprised of a diversified portfolio of products, services, technology and businesses solely focused on the cannabis and hemp industries. These products range from patented and proprietary based cannabinoid products, to seed and stalk or isolated high value extracts specifically manufactured and formulated for the pharmaceutical, nutraceutical and cosmeceutical industries. The Company’s services are extensive and varied, ranging from medical clinic management to the capitalization and development of existing industry business and product leaders. Services include development of cannabinoid based health and wellness products, and the development of medical grade compounds. MJNA provides over 85 proprietary and patented cannabinoid delivery methods that are more socially and medically acceptable than typical industry methods. Finally, MJNA services include the licensing of its proprietary testing, genetics, labeling, and packaging, tracking, production and standardization methods for the medicinal herb industry.”

At a market capitalization of $308.4M, the balance sheet is in increasingly rocky shape for MJNA, with cash ($406K) on the books roundly dwarfed by a $3.9M mountain of current liabilities. One should also note that the mountain is growing with each new report. That presents further dilutive risk, and may be helping to contribute to some of the red flags we noted about the stock’s tape of late in our opening analysis.

At the same time, the top line/sales side is a clear edge. Medical Marijuana Inc is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 18.6%. However, the benefit of experience generally leads one, over time, to trust the tape above all else. For continuing coverage on shares of $MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Latest article

Sundial Growers Inc (NASDAQ:SNDL) Struggles to Sustain At Higher Levels After Earnings

In recent times, plenty of cannabis stocks have been in action due to rising optimism about the sector and one such stock...

HUMBL Inc (OTCMKTS:TSNPD) On the Rebound as Investors Track Developments

If there is one stock that has captured the imagination of many investors over the past months, then it's that of HUMBL...

88 Energy Limited Ltd (EEENF) Update: Continues Climbing on Significant Volume

Investors who might be looking for stocks that have made considerable gains in recent weeks could consider having a closer look at...

Victory Resources Corporation (OTCMKTS:VRCFF) Stock Rockets After Announcing A New Acquisition

Nowadays, lithium is in huge demand across several industries and hence, it the rally in the Victory Resources Corporation (OTCMKTS:VRCFF) stock the...

iMD Companies Inc (OTCMKTS:ICBU) Sees Epic Jump On Crypto Buzz

The meteoric rise in cryptocurrencies over the past few months has resulted in a lot of interest in stocks in companies which...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service