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Wednesday, November 25, 2020

Why Medical Marijuana Inc (OTCMKTS:MJNA) is Looking for a Spark

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Once again on the list of underperformers in the cannabis patch and the CBD space, Medical Marijuana Inc (OTCMKTS:MJNA) shares continue to defy typical expectations given the growth being claimed by the company. The stock has been net sideways since forever, and yet we continue to get update after update touting record-breaking growth.

As a case in point, with shares sideways for the past month, 3 months, and 12 months, the company just announced that it (and its subsidiary Kannaway) booked the largest-ever (unaudited) sales month in its history in August of 2018, as well as reached major milestones in business operations. According to the release, “Medical Marijuana, Inc. is also proud to announce that it has set new records for monthly sales bookings for three consecutive months and Kannaway has set new records for monthly sales bookings for nine consecutive months.”

Medical Marijuana Inc (OTCMKTS:MJNA) casts 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.

MJNA’s subsidiary, Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products

MJNA 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, sportswear and more.”

According to company materials, “Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.”

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As noted above, the company just announced that it posted its best sales month in company history in August.

“We are excited to announce August of 2018 was the largest sales month in the history of our company,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “There is significant growth taking place in the entire industry and we’re proud to be a part of that.”

Recent action has seen 2% piled on for shareholders of the company during the trailing week. Furthermore, the stock has benefitted from a jump in recent trading volume to the tune of 15% over what the stock has registered over the longer term.

“As we close in on the third quarter of the fiscal year, we are pleased to continue the success we’ve seen in the past two quarters,” said Medical Marijuana, Inc. COO Blake Schroeder. “This month we spent a lot of time and effort focusing on our international expansion and look forward to what that will bring to our future.”

Earning a current market cap value of $350.64M, MJNA has a significant war chest ($3.8M) of cash on the books, which stands against about $2.1M in total current liabilities. MJNA is pulling in trailing 12-month revenues of $42.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 159.5%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $MJNA 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 $MJNA, either long or short, and we have not been compensated for this article.

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