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Saturday, November 28, 2020

What Might Stop the Underperformance in Medical Marijuana Inc (OTCMKTS:MJNA)?

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A good example of underperformance in the CBD space right now is Medical Marijuana Inc (OTCMKTS:MJNA). The stock has been confronted with its most important possible catalyst – in the Farm Bill – and yet it has gone basically nowhere. To help try and turn this story around, the company just announced the release of its newest cannabidiol (CBD) product Real Scientific Hemp Oil (RSHO) Maximum Strength.

According to the release, “RSHO Maximum Strength is the company’s most potent full-spectrum product, containing 4,500 mg of CBD in each 10-gram oral applicator to support overall wellness. This product features both CBD and CBDa in a proprietary blend of the company’s premium hemp oils, including its RSHO Green Label raw CBD oil and RSHO Gold filtered CBD oil. It is also available in one-gram containers.”

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 the release of its newest cannabidiol (CBD) product Real Scientific Hemp Oil (RSHO) Maximum Strength.

Recent action has seen -9% stripped out of share pricing for the listing in the past week. Furthermore, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 7% above the average volume levels in play in this stock over the longer term. Note, the stock has a massive float, so it has a much easier time acting heavy, especially given the constant force of dilution that has come to characterize this name.

“We developed Real Scientific Hemp Oil Maximum Strength because of our promise to continuously evolve and lead the industry with quality and innovation,” said HempMeds® President Todd Morrow. “This product brings consumers a new level of full spectrum concentration to assist those who can benefit most from a higher concentration oral applicator product. We will continue to drive industry innovation and offer products that stand by our promise to deliver safe, high-quality and meaningful ingestible or topical formulations that can help make a difference for those who benefit from CBD.”

Now commanding a market cap of $289.9M, MJNA has a significant war chest ($4.8M) of cash on the books, which stands against about $4M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA is pulling in trailing 12-month revenues of $51.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 116.2%. We will update the story again soon as developments transpire. 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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