Medical Marijuana, Inc. (PINK:MJNA) Climb Interrupted

25MJNA_chart.pngYesterday Medical Marijuana, Inc. (PINK:MJNA) logged a red day on the charts, closing 7.5% down on 16 million shares traded – a volume comparable to the previous session. The price stopped on $0.302 at the closing bell.

MJNA looked like it had shrugged off most of its bad mojo and was starting another run up. However yesterday’s session cut that short after just two days of upward movement. Company supporters may be hoping yesterday’s red won’t mark the start of a new retrace to lower values.

Dixie Elixirs, the company’s subsidiary that’s been most active in the media, announced that they have “something new” that should be revealed today. The company has not given any hints as to what the item in question will be, but discussion boards are buzzing with speculation and rumors that it may be a vaporizer pen, or vape pen. This sounds like a reasonable path to follow, as it could give the company an alternative way to sell its cannabinoid oils. Some are even making certain claims that the expected product will be vape pens pre-loaded with oils.

This is, of course, speculation and semi-educated guesswork ahead of time but with the revealing of the item just hours from now, everyone’s curiosity will be satisfied. Even assuming they have a vape pen in the works, this sort of product reveal can hardly have a very significant impact on stock price in the immediate future, as it will have to be leveraged over competitive products.

MJNA has been enjoying a lot of attention throughout the last month, constantly latched within the top 10 most heavily traded OTC stocks in terms of dollar volume. The only thing that can be sad for certain about the stock is still the same – that it remains largely volatile. Caution is advised, as with all penny stocks that experience similar huge percentile swings.

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