Marijuana Company Of America Inc (OTCMKTS:MCOA) Breaks Out on Revived CBD Launch

Marijuana Company Of America Inc (OTCMKTS:MCOA) Breaks Out on Revived CBD Launch

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As the MJ space starts to catch renewed momentum, Marijuana Company Of America Inc (OTCMKTS:MCOA) is a classic name in the space that has been breaking out in recent days and may deserve a bit of a look. The company just announced that the Company’s hempSMART brand has relaunched its flagship wellness product hempSMART Brain with 10mg of Cannabidiol (CBD) oil per serving.

According to the release, “hempSMART Brain has been relaunched and redesigned with an improved formulation that includes 300mg per bottle of Full Spectrum, non-psychoactive, water soluble CBD oil per serving and contains a botanical blend of all-natural plant-based ingredients such as Ashwaganda, Fulvic Acid, Rhodiola Rosea Extract, Bacopa, L-Theanine, Green Tea Extract, and Huperzia Serrata.”

Marijuana Company Of America Inc (OTCMKTS:MCOA) trumpets itself 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.

MCOA is a cannabis marketing and distribution player that intends to be the first to distribute a wide range of high-quality marijuana products via a unique distribution and marketing platform.

According to the Company’s press materials, “MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreations use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop. About Our hempSMART™ Products Containing CBD: The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication, and disclaims CBD as a dietary supplement. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition.”

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Traders will note 71% tacked on to share pricing for the stock in the past month. This is emblematic of the stock. MCOA has a history of dramatic rallies. What’s more, the company has registered increased average transaction volume recently, with the past month seeing topping 170% over what the stock has registered over the longer term.

According to the release, “hempSMART Brain has been developed to maintain mental clarity, alertness, focus and concentration as well as promote relaxation, restorative sleep, and support the repair and regeneration of brain cells, better known as neurogenesis. This unique formula promises to revolutionize the safe, effective, and natural optimization of brain wellness.”

MCOA’s CEO Donald Steinberg stated, “After reviewing our hempSMART Brain product, our formulators chose to improve upon the original product by doubling the original dosage of CBD. Our team is proud to be able to welcome our flagship product back onto the market and look forward to the upcoming marketing campaigns.”

Earning a current market cap value of $88.9M, MCOA has a store ($170K) of cash on the books, which is balanced by about $1.1M in total current liabilities. MCOA is pulling in trailing 12-month revenues of $40K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 222.6%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $MCOA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $MCOA, either long or short, and we have not been compensated for this article.

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