“Don’t try to teach your father how to make a baby!” Those were the words said to me 20 years ago as a college student studying economics when I tried to teach my dad of the medicinal benefits of marijuana after he found my stash. The concept for the “old-schoolers” just could not get into their heads.
Monday was payback time as he text me: “Thank you for getting me into Medical Marijuana Inc. (MJNA) in August at under $0.05 and, by the way, you were right.” Right about MJNA stock is an understatement as shares not only led the OTC in trades, 3rd in dollar volume, and set a new high well above all expectations, but has politicians now calculating how a federal tax of $50 per ounce could raise $20 billion a year.
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MJNA Stock Chart: 6 Months
Market Cap: 315.20M
Last: 0.428 ▲ 0.123 (40.33%)
Open: 0.34
High: 0.50
Low: 0.335
Authorized: 750,000,000
Issued and Outstanding: 736,448,277
14-Day Rel Strength: 91.86%
14-Day Stochastic: 81.06%
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What sucks most about the penny stock of Medicial Marijuana Inc. is two fold:
Firstly, MJNA stock trades on the Pink Sheets, a less regulated exchange on the OTC Markets. It doesn’t mean that access to trading the shares is limited, but the reliability on reported financial information is less dependable than that of an SEC filing Company. Then there is the controversial outlook as to a history of events which occurred in prior “Cannabis” focused penny stocks involving Micahel Llamas and implications of MJNA being a “daisy chain fraud.”
However, sometimes even a company can fall into a pile of crap and come out smelling like roses.
The optimist approach to MJNA is that, with some much over-hyped controversy and focus from federal investigators into prior dealings of fraud the Llamas family may have or not have been involved with, Medical Marijuana Inc. may have gotten too big too fast that an actual, functioning business may evolve from it. The pessimists are still waiting, 6 months already, to be able to do their “I told you so dance.”
February 17th could be the date when those one either side of the fence can start hurling their bags at the other, maybe even sooner.
Fuel was added to the fire for Marijuana stocks after the close on Monday when the Associated Press issued commentary from some prominent politicians and former White House department heads about how to deal with Legalizing while still enforcing. Since 6 cannabis connected penny stocks landed themselves into the top 10 traded on Monday with huge gains of as much as 4,000% since our initial coverage of each began on each of them, they are all worth watching:
| Symbol | Price | % Change | $ Volume | Share Volume | Trades |
|---|---|---|---|---|---|
| MJNA | 0.428 | +40.33% | 22,719,736 | 54,825,864 | 6,417 |
| CBIS | 0.094 | +34.48% | 4,384,035 | 49,848,174 | 2,822 |
| HEMP | 0.081 | +80.00% | 4,144,786 | 66,763,402 | 2,106 |
| PHOT | 0.0901 | +42.11% | 4,404,200 | 53,508,842 | 2,103 |
| SWVI | 0.3969 | +1.51% | 3,252,750 | 8,067,806 | 1,824 |
| ECAU | 1.72 | +11.69% | 3,599,406 | 2,086,696 | 1,543 |
| MWIP | 0.041 | -7.24% | 1,664,936 | 36,527,656 | 1,535 |
| GRNH | 0.12 | +94.17% | 943,254 | 9,752,682 | 955 |
| AAMRQ | 1.24 | -0.80% | 2,321,219 | 1,878,142 | 734 |
| CERP | 0.0285 | +23.91% | 934,479 | 39,613,556 | 699 |
Legalizing Marijuana is not a “pipe dream” by any means. For those old enough to remember the days when you could throw darts at the Wall Street Journal and make money in the stock market, when Yahoo Inc. (NASDAQ: YHOO) went from $9 to $400 without reporting net income until 9 years later, the President of our country at the time admitted to smoking weed on National Television!
Saxophone playing Bill was the friggin President of the United States of America!
Just have a quick glance here at the Top 50 Most Influential Marijuana Users. The list of the top 10 alone will blow your mind.
Let’s just say that Congress changes U.S. marijuana laws, legalizes the industrial production of hemp and establish a federal tax on medicinal marijuana thus lessening the criminality of it. Let’s just imagine if there was a federal marijuana excise tax of 50% on the “first sale” of marijuana, the transaction which includes the sale from a grower to a processor or retailer. Include in that mental image a tax on marijuana producers or importers of $1,000 annually and other cannabis businesses $500.
Add on to that the discussion of taxing an ounce $50 at the retail counter. We’re literally talking billions of dollars in tax money for something approximately 20% of the U.S. population is already purchasing illegally. Now factor in the insane amount of money spent to fight the war on drugs and incarcerate drug traffickers, a war that for 4 decades plus the U.S. has never been able to win. We could be talking about $100 billion plus of taxpayer’s money eliminated from spending annually by legalizing marijuana even in a partial sense to decriminalizing it.
Many of the above are the extreme of all extremes when it touches on the topic but just think, if all of that was to come to a deal, is net income of approximately $3.39 million on gross revenues of $5.10 million for the quarter ended December 31, 2012 enough to make 3/4 of a billion outstanding shares of MJNA really worth half a dollar?
About MJNA Stock
Medical Marijuana, Inc., a premier cannabis and hemp industry innovator, intends to issue its annual shareholder update for 2012 on February 17, 2013 which will include full year results as of December 31, 2012. Click here to view the financial filings for MJNA.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 02/04/13 | 0.4280 | +0.1230 | +40.33% | 54,825,801 |
| 02/01/13 | 0.3050 | +0.0810 | +36.16% | 57,881,398 |
| 01/31/13 | 0.2240 | +0.0490 | +28.00% | 39,661,801 |
| 01/30/13 | 0.1750 | +0.0140 | +8.70% | 19,900,500 |
| 01/29/13 | 0.1610 | +0.0120 | +8.05% | 15,938,699 |
Bottom Line: The run MJNA stock had from August to elections in November, gaining close to 400% was huge but it never seemed to end. After MJNA stock again led all OTC listed penny stocks in trades and hit the half-dollar mark, gaining 0.35 in the last 5 trading sessions alone, one has to see that the munchies are gonna kick in where taking profits and waiting for a bottom somewhere in the teens is set to occur here very soon. Until then, tunnel vision on that level 2 screen remember to never try to teach your father how to make a baby.
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