Medical Marijuana, Inc. (OTCMKTS:MJNA)’s Stock Jumps on PR
The stock of Medical Marijuana, Inc. (OTCMKTS:MJNA) was going through a tough period, rarely registering sessions in the green for the past 3 months. The price was hovering around $0.140 per share but this month went even worse, leading MJNA as low as $0.093.
Yesterday, however, an optimistic press release containing information from the Q3 report of the company, which we covered in our previous article about MJNA, was enough to secure a decent gain in price for their stock, despite the fact that it was filed on November 15.
It seems that if you don’t announce such things in Yahoo! Finance, no one is going to notice them and this is most evident in the fact that after the long period of descending the charts MJNA registered a 25% gain in price and regained the value it had lost in the previous 4 sessions.
We saw almost 2 times the average volume of traded stock as the ticker was moving from $0.093 to $0.0117 per share, as a total of 15.8 million shares switched hands and generated a good $1.7 million in dollar volume.
The hype, however, might last very little considering the holiday schedule of the stock market in which investors will have time to pay attention to the little details. As we mentioned in our previous article, without the $8 million income from the CannaVest acquisition, which were paid mainly in shares, MJNA would have closed the quarter with a $86 thousand net loss.
MJNA‘s own products are still unable to produce revenues that will lead the company to a profit and this is the exact reason for which we would advise you to pay attention to the little details, do your due diligence and weigh out the risks before taking the investment decision.
TheDirectory.com, Inc. (OTCMKTS:SEEK) also had an amazing session yesterday as they registered a gain of a whopping 45% in value. Sollensys Corp (OTCMKTS:SOLS) weren’t so fortunate as they ended the session with a 21% loss in price.