Medical Marijuana, Inc. (PINK:MJNA) Inches Up Quietly

Yesterday Medical Marijuana, Inc. (PINK:MJNA) had its slowest trading session in about two weeks’ time. Despite the low volume of a little under 5 million shares traded, the stock moved 3.8% up the charts and closed green.

Traders on discussion boards are sitting with idling engines, waiting for another news release from the company to spring back into action. There are several potential catalysts that could see traders swarming back onto MJNA, among them a favorable stance announced by the U.S. attorney general Eric Holder, major news from the company concerning developments and expansion in other states or in Europe, hopefully followed by an official filing, as part of MJNA‘s attempt to uplist out of the Pink tier and into OTC.

The recent agreement signed by MJNA and its new best buddy CannaVEST Corp. (OTC:FCLS), with KannaLife Sciences, Inc. didn’t really lift MJNA share price much. The agreement was for a joint $1.5 million investment in KannaLife by MJNA and FCLS, against the issuing of Series A stock of the company. The reasoning behind this move was defined as an effort to standardize production, as KannaLife has certain experience in product packaging and standardization and holds exclusive contracts and patents with the National Institute of Health.

It’s probably worth repeating that CannaVEST is participating in the financing round with cash loaned by Roen Ventures, LLC. CannaVEST’s CEO and president, Michael Mona Jr. holds a 50% interest in the loaner party.

Where the stock is headed remains a difficult question. Despite the fact that it stopped swinging wildly over the last two weeks MJNA is still a volatile pink sheet stock in a sector that tends to rock back and forth with excitement and some degree of uncertainty.

MJNA is doing well so far in early trading, with its shares nearly 4% up in early trading and volume already more than half of yesterday’s.