Medical Marijuana, Inc. (PINK:MJNA) Heats Up the Newswire to Little Effect

It’s finally here, 4/20 week has started and cannabis enthusiasts are buzzing with excitement. Medical Marijuana, Inc. (PINK:MJNA) has decided to keep up with the marijuana community spirit, chiming in with two press releases this week, the second hitting the wire just an hour earlier.

Yesterday, after a price slump at the market’s open, MJNA released news that the company, through its Dixie Elixirs subsidiary, will be a co-sponsor and co-host of the premiere of ‘Reincarnated’ – the movie of famous rapper and newly converted reggae artist Snoop Lion, formerly known as Snoop Dogg. The premiere will be part of the 420 weekend of events to take place in Colorado. The news did not manage to affect the stock’s price, as the release came after the markets had closed.

Today MJNA followed up with another release focused on Dixie Elixirs. The announcement is related to the launch of Dixie’s new product line – Dixie X Synergy, combining THC and CBD for the first time, aiming to deliver the benefits of THC while mitigating its euphoric effect through the addition of CBD. The new line of products is said to include capsules, salves and drops.

Despite the accumulation of what some may perceive as significant news, MJNA opened virtually flat today, currently less than 1% up in early trading. The previous press announcement of record revenues, posted on April 11, didn’t really manage to send the stock soaring and MJNA rather recovered from a series of dips.

Some investors still seem to think that the company is saving the best for last, with the biggest news to hit on or around April 20, but given the two announcements so far this week and the revenue information ahead of the filing, MJNA may have a hard time continuously trumping its previous news posts.