The week for penny stock trading begun much like it ended Friday with marijuana beating out housing giants Fannie Mae (FNMA) and Freddie Mac (FMCC), the 2 OTC stocks which were almost always in the top 5 traded all of 2013. The one with the most catchy name to it, Medical Marijuana Inc. (MJNA), took the top spot on Monday despite the fact of it’s connectivity to some of the most dubious insiders the Pink Sheets have ever known. Even with some supportive commentary to dissect the claimed gross income of approximately $8.07 million, MJNA stock shined above all the rest, closing within spitting distance of the HOD.
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14 of the top 20 OTC stocks traded were all related to marijuana, it just so happened to be that Medical Marijuana Inc. (MJNA) overtook the spotlight of them all, more than doubling the number of trades executed compared to the 2nd most popular, Cannabis Science, Inc. (CBIS). Even though the Company has long been linked to a ponzi scheme, the intraday chart MJNA stock looks much like its YTD chart, growing like a weed, having gained 279% since the start of the year.
CBIS stock rightfully continued its run as the development stage biotech company hoping to one day commercialize phytocannabinoid-based pharmaceutical products. Since the start of the year, CBIS stock has gained 477.98% even though it closed 0.071 below the new 52 week high set earlier this morning.
Growlife Inc. (PHOT), GreenGro Technologies, Inc. (GRNH) and Hemp, Inc. (HEMP) rounded off the remaining spots for the top 5 traded OTC stocks. While PHOT stock is the one with the most credible and reliable revenue growth behind it, GRNH stock is up 2,095% since Colorado and Washington State voted to legalize marijuana. It’s hard to put a trade in at these levels with so much smoke on the water, but it doesn’t look like there is too much to impede on the cannabis hype.
On a non-marijuana note, KonaRed Corporation (KRED) set a new 52 week high it’s really only been active since the start of the year) as well as a new high for volume after issuing an update regarding retail distribution. Having begged all of our followers to grab shares of KRED stock when they were just 0.79, gains of 63% are now being booked, peanuts compared to the marijuana stocks, but good green gains nonetheless.
About MJNA Stock
Medical Marijuana, Inc. is a pink sheet listed company determined to become the premier cannabis and hemp industry innovators by creating awareness within the cannabis industry and developing environmentally-friendly, economically sustainable businesses, while increasing shareholder value.
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Financials are pretty much meaningless when it comes to marijuana related penny stocks. When you can witness better than 500% growth since the start of the year on scams like Sk3 Group Inc (SKTO), Latteno Food Corp. (LATF) and Tranzbyte Corporation (ERBB), you kinda just need roll whatever ticker your’e tracking in flour and look for the wet spot before going in.
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