Medical Marijuana, Inc. (PINK:MJNA) Claws Back into Action

71MJNA_chart.pngOn Friday Medical Marijuana, Inc. (PINK:MJNA) forged on with clenched teeth and managed to recoup to a large extent the drop from the previous session. The stock closed 23% up, gaining 5 cents on slightly faded volume.

The session’s opening probably looked like a bad dream to some as MJNA slipped below $0.20 per share but managed to bounce early in the morning, then finished the day relatively steady. The movement can be interpreted in a number of ways as it happened on no significant news from the company and after days of free fall.

Chart lovers could find patterns and models behind the bounce but in the end of the day, marijuana stocks remain largely volatile investments, as the repeated swings up and down throughout February have proven.

58MJNA_logo.gifNews are circulating trader discussion boards, concerning new legislative developments around marijuana, patients and federal law. This is not the first time good news have sprung up around medical marijuana and while the news could help the publicly traded marijuana stocks, they are not necessarily a guarantee for their success as businesses.

MJNA‘s volatile movement pattern is once again present even intra-day as the stock gapped up and ran above $.30 this morning, dipped back down, then started another see-saw swing.

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