One key test that will be in play this week is the challenge to recent support levels in Medical Marijuana Inc (OTCMKTS:MJNA). To help set the stage, the company just announced that its subsidiary Dixie Botanicals has released a new line of flavored cannabidiol (CBD) vaporizer (vape) liquids.
According to the release, “Dixie Botanicals CBD Vape Liquid (link to website) is an exclusive CBD product line that gives users the opportunity to consume CBD in a quick and efficient way. Each pre-filled 30ml dropper bottle contains 1000 mg of high-quality CBD isolate and is available in 3 flavors: Blackberry Lemonade, Vanilla Caramel and Sour Watermelon.”
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, MJNA just announced that its subsidiary Dixie Botanicals has released a new line of flavored cannabidiol (CBD) vaporizer (vape) liquids. In all, we’ve witnessed just shy of -10% stripped out of shares for shareholders of the name during the trailing week.
Moreover, the name has registered increased average transaction volume recently, with the past month seeing 7% above its longer-run average levels.
“The company is delighted to offer this new CBD vape liquid product for those who want a tasty and efficient way to consume CBD,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Each variety is made with natural CBD isolate and is a great option for those looking to change up their CBD intake method with a delicious, casual and convenient alternative.”
Now commanding a market cap of $242.92M, MJNA has a significant war chest ($3.8M) of cash on the books, which compares with 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%. You can bet we will update this one again as new information comes into view. 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.