Medical Marijuana, Inc. (PINK:MJNA) Keeps Oscillating

Yesterday after a somewhat wobbly start Medical Marijuana, Inc. (PINK:MJNA) managed to close the day over 19% in the green. Volume kept fading and was about half that of the previous session.

It would seem MJNA has managed to shrug off most of the negativity recently levied against the company’s board and management by certain outlets. The company has made announcements through its most prominent spokesperson, Mr. Tripp Keber, that it will be defending itself through whatever legal channels are available.

Now some more speculation is making the rounds, concerning MJNA‘s plans for its future operations with CannaVEST Corp., f.k.a. Foreclosure Solutions. Part of a February agreement between the companies includes the purchase of raw hemp plant by MJNA from CannaVEST. The laws of the state of Colorado will allow for the industrial growing of hemp as early as this spring and most of the speculation revolves around the possibility of MJNA using CannaVEST to grow the plant and gradually taking controlling interest in the entity as further hemp oil payments are made to MJNA in stock, all the while shielding itself from a possible turn of events on a federal level that may compromise it and posing just as an investor and not a parent company of CannaVEST.

We will leave it to investors to decide how likely such a scenario is. Previously we discussed a somewhat bothersome detail of the transaction transferring PhytoSphere’s hemp oil and assets to CannaVEST.

MJNA has shown strength but it has also shown great volatility, both in the wake of the alleged attack on the company’s reputation, as well as unassisted by discernible external factors. While the company is taking steps to improve investor confidence and possibly uplist from pink to OTC tier, this is an ongoing effort that will take a while. Traders who don’t have the stomach to ride the roller coaster that MJNA‘s chart has been over the last month will probably want to wait on the sidelines for a while. MJNA is 4% up in early trading as of the time of writing.