Medical Marijuana, Inc. (OTCMKTS:MJNA) Holds Tight
After two explosive trade sessions in the end of last week the stock of Medical Marijuana, Inc. (OTCMKTS:MJNA) had a quiet day yesterday, with few trades and a percentile movement below 1% in value.
As expected, the medical marijuana madness that hit the penny stocks after the announcement of Attorney General, Eric Holder that the federal government will not interfere with state law concerning marijuana has cooled off.
The volumes are lower and the price movements aren’t that big. MJNA‘s stock barely moved on a low volume that was made up of slow trading through the whole session. There weren’t any peaks in trades and the stock’s price moved in an almost straight line.
The ticker gapped up and opened at $0.1694, but slid lower in a matter of minutes. MJNA closed the day with a price of $0.158 per share or just 0.06% above the $0.1579 from the previous day. The volume was a little higher than their average and couldn’t compare to the previous sessions’ with 15.9 million shares that had switched hands in the end of the day, generating a total trade value of $2.5 million.
The optimistic news from yesterday about HempMedsPX representing the company alongside US Hemp Oil as a Gold Sponsor of the Natural Products Expo East didn’t change the situation much. For now, the stock remains risky as there are still many unknowns on the matter of how profitable medical marijuana companies can be.
The situation in yesterday’s trade session was similar for other companies in the industry like Hemp, Inc. (OTCMKTS:HEMP), Cannabis Science Inc. (OTCMKTS:CBIS) and Growlife, Inc. (OTCBB:PHOT).
