Medical Marijuana, Inc. (OTCMKTS:MJNA) Continues To Slide

The last two months were hard for the stock of Medical Marijuana, Inc. (OTCMKTS:MJNA), as it started to slide, just like many other, when the hype surrounding the industry became uncapable of carrying the tickers further up the charts.

This month, however, things worsened and the downward percentile movements that MJNA makes started to go up into the double digits. The reason for the current situation in the sector is apparently the halt of Growlife, Inc. (OTCBB:PHOT)’s stock, which was thought to be one of the most stable in the medical cannabis sector.

It seems that this came as a little bit of a shock to people who thought that these tickers were headed sky-high and surely there are a lot of investors that began selling lower and lower, just so they can get out with some kind of a profit or a minute loss.

Unfortunately, this option is currently unavailable for PHOT shareholders, but it seems like the bubble has popped and stocks like Cannabis Science, Inc. (OTCMKTS:CBIS) GreenGro Technologies, Inc. (OTCMKTS:GRNH) Terra Tech Corp. (OTCMKTS:TRTC) will be going down alongside MJNA for a while.

In the latest session MJNA lost another 10% of its value, despite the fact that the company has managed to finish the past year at a profit.The rapid descent with which the trading day began made a lot of investors nervous and by the final bell the volume of traded stock was double the average and had managed to generate $4 million in trade value.

The sector is clearly quite volatile after the recent events and it might be a good idea if you were to wait for things to settle down a bit, because the market caps of most companies are soaring and have absolutely no correlation to the book value.