Medical Marijuana, Inc. (OTCMKTS:MJNA) Ahead Again

While the whole marijuana sector was struggling to retain position, Medical Marijuana Inc. (OTCMKTS:MJNA) managed to climb the charts with another 15.22% yesterday.

The ticker opened $0.02 higher than it had closed on Wednesday and made a significant step towards recovering from its crash in the two previous sessions. Apart from the sudden spike and subsequent fall back to the same level at its start, yesterday’s session was all smooth sailing for MJNA. The final bell saw the company close at $0.38.

MJNA’s jump is impressive mainly because happened during a market calm. It is true that other marijuana companies, such as HEMP, INC. (OTCMKTS:HEMP) Terra Tech Corp. (OTCMKTS:TRTC) and Growlife Inc. (OTCBB:PHOT) all moved upwards in yesterday’s session, but none of them managed to rise more than 4%. 

MJNA’s market success can mostly be attributed to the press release they made on the same day. It announced that the company has entered into an agreement to supply industrial cannabidiol to a home-based business organization. The “revenue possibilities” of this agreement are obvious – a million dollars worth or revenue in just the first quarter is nothing to scoff at.

Supplying a major buyer with the CBD-rich hemp oil-based anti-aging product line can greatly improve the company’s commercial, financial and overall market standing. However, potential investors should keep in mind that almost no information was disclosed on said agreement – there are no new filings or and no official documents were published to indicate commitment between the companies, and there probably won’t be any time soon. All potential buyers have to go on until the company’s next quarterly is MJNA’s press release. And as we saw in a recent incident involving Tranzbyte Corp. (OTCMKTS:ERBB), those aren’t always reliable.