Medical Marijiuana, Inc. (OTCMKTS:MJNA) – Business as Usual

After another red session, yesterday Medical Marijuana, Inc. (OTCMKTS:MJNA) slipped back to just under $0.14 per share. A volume spike before noon contributed to the stock’s total daily volume of over 18 million shares – the largest in two weeks.

The company chimed in with yet another press release concerning its participation in an exhibition. MJNA will be participating in next week’s Miami Wholesale Expo with its cannabidiol products. Once again, MJNA will be presenting through HempMedsPX – its portfolio company and marketer for MJNA and CannaVEST.

This is the sixth press release of a similar nature within the last month. MJNA seems determined to grow its client network and appears to be making every effort in that direction, using every opportunity to showcase its products. Despite those efforts, investors don’t seem particularly thrilled and the share price is slipping slowly.

MJNA is now back in the price range where it spent most of the summer, back below $0.14 and approaching the levels before the August spasms. This is not necessarily bad news as long as the ticker manages to hang in there, as there is no particular reason for it to climb much further. The last quarterly report of the company showed underwhelming revenue figures derived from acutal product sales and those publicity campaigns and expo appearances will really need to have an impact on sales in future reports, otherwise the price may take a further blow.

Other stocks that commanded heavy volume yesterday include 3D Eye Solutions, Inc. (OTCMKTS:TDEY) who corrected significantly after a bullish run and dropped 48% down. North American Oil & Gas Corp. (OTCBB:NAMG) slumped over 11% to a close of $1.31 per share after a couple of strong green days.