When it comes to hot OTC stocks, not too many can remain “in play” like marijuana stocks. While Cannabis Science Inc. (CBIS) had a tremendous start to 2012, running from 0.0196 to a high of 0.245, a gain of 1,150%, Medical Marijuana Inc. (MJNA) is just as smoking hot. Although the percentage gains are slightly less at present had you got into MJNA stock, 858% since its July lows, the revenues and projected net income the company brings to the table with its patented and proprietary based cannabinoid products has been significant enough that bigger money has, and is, still flowing into this top 10 penny stock. Is 0.30 on the horizon?
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MJNA Stock Chart Since July
Market Cap: 164.96M
Last: 0.224 ▲ 0.049 (28.00%)
14-Day Rel Strength: 79.90%
14-Day Stochastic: 94.94%
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One of the biggest reasons why Medical Marijuana Inc. has performed so well since July is due to the scientifically proven, well-documented beneficial effects of marijuana including the amelioration of nausea and vomiting, stimulation of hunger in chemotherapy and AIDS patients, lowered intraocular eye pressure (shown to be effective for treating glaucoma), as well as general analgesic effects (pain reliever). POT: It’s not just for teenagers anymore.
The acceptance of medicinal marijuna products could also be due to the fact that most of the baby-boomer generation, those who are most likely to be purchasers of cannaboid based products, is thanks in part to their exposure to the “happy leaves” when they were younger. “Don’t smoke pot – you’ll go insane” they said, yet now, those same preachers are helping MJNA stock reach new 52 week highs daily for the last two months, levels not seen since April, 2011.
Although there are far and few traders who had the munchies to be buying shares of MJNA 13-14 months ago when the PPS was as low 0.011, Thursday was a huge day for shareholders as it not only had its 2nd largest volume trading session ever, but it also led the top 10 penny stocks traded on the OTC in EOD gains, 3rd in most trades, and it’s industry partner, CBIS, coming in 10th:
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About MJNA Stock
Medical Marijuana Inc. operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products, to whole plant or isolated high value extracts specifically manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries. Click here to view the website of MJNA, here to view the most recent financial update as filed on OTCMarkets.
Last 5 Trading Sessions:
Bottom Line: Thank you Cannabis for allowing penny stock traders to make enormous gains from MJNA and CBIS over the last 14 months. Considering the pattern MJNA stock is on and the assets they reported on their September 30, 2012 filing, net income for Q4 and/or the year ended December 31, 2012 could send it well over 0.30. Rise of the Pot Heads!!! (guilty as charged)
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