Medical Marijuana, Inc. (OTCMKTS:MJNA) Livens Up With The Help of PR
The price of Medical Marijuana, Inc. (OTCMKTS:MJNA)’s stock was barely moving recently. The percentile movements it recorded in almost 2 months of trading were below 10%, but recent news from the company led to a decent gain yesterday, accompanied by an explosion in volume.
They company started heating up the investors with an October 22 press release which included a photo of their booth at CHAMPS in Denver, Colorado where they unveiled two new cannabidiol (CBD)-rich products, CibdexTM and CibadermTM.
Yesterday they made a press release with which they informed the investors that Cheryl Shuman, a brand ambassador for HempMedsPXTM (one of MJNA‘s subsidiaries) and a big figure in the medical marijuana reform will be speaking on Dr. Phil this Friday, which seems to be the main reason for the ascent.
However, even though it was posted before the market opened, the price of MJNA made its big jump after 11:00 AM when it peaked at $0.164 per share and we saw a flurry of shares flying around.
The ticker was instantly pushed down and reached as low as $0.15 per share but started regaining value and almost went to the $0.16 mark again. In the end of the day MJNA closed with a gain in price of 13.30% at $0.155 per share.
Not only was the percentile movement in price the highest in almost 2 months of trading, but the volume of traded shares was massive. A total of 26 million shares switched hands during the session and helped generate $4 million in trade value.
It won’t come as a surpire if we see a correction today, because MJNA is one of the most stable stocks in the OTC Markets, howevering around a value of $0.15 per share. Nonetheless, we would advise you to do your diligence and weigh out the risks if you have thoughts of investing in MJNA.
On the oher hand TheDirectory.com, Inc. (OTCMKTS:SEEK) recorded a third session of climbing the charts with a hefty 48% gain in value and we see a possibility for a serious correction, despite the small price of $0.0030 per share. 3D Eye Solutions, Inc. (OTCMKTS:TDEY) also recorded a decent gain of 29% after it slipped in the previous session.