Medical Marijuana Inc (OTCMKTS:MJNA) Recovery is Brief

After a bit of a roller coaster ride over the last couple of weeks, the share price of Medical Marijuana Inc (OTCMKTS:MJNA) went to close green just once before the stock stepped down the charts again. Yesterday MJNA ended up 1% in the red, at $0.047 per share.

On Tuesday the company squeezed out a couple of press releases within the same day, as though to counteract the new price slip that followed two days of recovery. One press release concerned the touching story of a little girl who overcame a dangerous and rare genetic disorder and was relevant insofar as the girl’s recovery story involved CBD. The other release was reaching for relevance a lot more and concerned a photo of MJNA‘s Real Scientific Hemp Oil (RSHO) appearing in a Wall Street Journal online piece.

MJNA CEO Stuart Titus commented on the RSHO photo inclusion, somehow linking together mainstream media taking note of RSHO with the “wonderful impact” CBD oil had for the people of Brazil. How this connection was made is not too clear, especially considering the article never mentions MJNA, RSHO or Brazil and the image was taken from the archives of stock photo agency Getty Images, standing to represent medical marijuana products in the broadest sense. The fact that RSHO is derived from hemp and not marijuana and the article covered medical marijuana growers and sellers, is a different subject altogether.

The company followed through with yet another press release yesterday. This one was actually connected to RSHO in Brazil and the agreements reached between MJNA and the South American country’s government, as well as the personal story of a Brazilian boy who now has access to CBD oil to alleviate his rare medical condition.

Brazil officially subsidizing CBD oil products and removing import taxes for them is great news for all patients who can benefit from CBD. How much of an impact that will have on MJNA‘s bottom line remains to be seen.