Medical Marijuana, Inc. (OTCMKTS:MJNA) Launches New Product, Moves Up
On Friday Medical Marijuana, Inc. (OTCMKTS:MJNA) closed 4.4% up, stopping at $0.14 per share. The ticker shifted over 4 million shares and ended the week on a strong note, logging its biggest percentile green close for the month.
There were a couple of press releases coming on Friday that likely helped the stock move up. MJNA announced, as usual through its exclusive master distributor and marketer – HempMedsPX, that its product line was now “augmented” with new CBD oil tincture products.
The other announcement, at least at first glance, seems more interesting than the new product launch, even if it didn’t originate from MJNA. MediJean, a Canadian biotech company, announced it is hosting a month-long debate over the Internet, seeking to involve the wide public as well as doctors and politicians in a nation-wide discussion. Canada is implementing changes to its health regulations, that will allow patients to receive a prescription for medical marijuana and have it delivered to them by a state-approved producer.
The green leaf sector is known to trade on excitement and even though the Friday jump of MJNA was not exactly huge, it could have been assisted by this significant awareness campaign being launched in a neighboring state. Sadly, MJNA is currently red once more in the current session’s opening hour, going 1% down in after opening a scratch above its previous close.
All eyes remain fixed on the company’s next report, as the rather lengthy PR stream and the numerous conferences, presentations and exhibitions MJNA took part in should ultimately culminate in an increased number of customers and revenues from actual product sales, not from shares MJNA receives as payment – a figure that dominated the company’s last report.