Medical Marijuana Inc (OTCMKTS:MJNA) Hovers a Breath Above 52-Week Low

After an underwhelming couple of weeks, the share price of Medical Marijuana Inc (OTCMKTS:MJNA) ground to a halt at its previous 52-week lowest close at $0.061 per share. After stopping at this level on Monday, MJNA went through a flat session, withstood the pressure and actually closed green yesterday. Even if just one percent up, the ticker inched away from the low point.

The fact that the company is screeching to past lows and barely bouncing from them at a time when management is bombarding shareholders with optimistic news and press releases is a completely different matter.

So far in July MJNA dropped an elaborately produced video, boasted about Kannaway’s part in the “historic” legalization in Puerto Rico, chirped in with news of Brazil waiving import taxes on Real Scientific Hemp Oil imports, then finally dropping a wordy PR only yesterday, speaking of its “historic accomplishments”. Against this backdrop of great news with just a breather in-between all of them, MJNA stock dropped over 10%.

How much actual confidence shareholders still have in MJNA and its future remains to be seen. It’s now been a few years of waiting and expecting the company to hit the big time, and if one goes by the press releases and official announcements from the company, it would seem it indeed has. The financial reports MJNA keeps publishing tell a somewhat different story.

While MJNA and almost every other pot stock keep detailing the possibilities and sector value full legalization might one day bring about, hardly anyone stops to think what might happen if big tobacco decides to come rushing in once legalization happens and simply steamrolls other companies, even those with established connections and product offerings, by sheer monetary force.