{"id":3268,"date":"2013-11-26T15:11:10","date_gmt":"2013-11-26T15:11:10","guid":{"rendered":"\/?p=3268"},"modified":"2013-11-26T15:11:15","modified_gmt":"2013-11-26T15:11:15","slug":"medical-marijuana-inc-otcmktsmjna-stops-at-a-dime-per-share","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-stops-at-a-dime-per-share\/","title":{"rendered":"Medical Marijuana, Inc. (OTCMKTS:MJNA) Stops at a Dime Per Share"},"content":{"rendered":"

\"455MJNA_chart.png\"In a curious occurrence of synchronicity, yesterday’s session brought the share price of Medical Marijuana, Inc. (OTCMKTS:MJNA<\/a>) to a close of exactly $0.10 per share after the ticker logged its 10th red day in a row. <\/p>\n

Ever since the January craze that sent almost the entire roster of public marijuana companies into orbit, MJNA<\/a> managed to maintain a price that remained above the 10-cent dividing line. Throughout the last eleven months, MJNA<\/a> logged just one close that was flat at $0.100 per share. That happened in the middle of June and the price recovered more or less instantly over the next sessions.<\/p>\n

While it’s true that the ticker may have been helped on its way down the charts by a couple of articles that took a harsh stance on the current goings-on around MJNA<\/a>, the company’s reports don’t do much to convince traders that things are looking up. The latest quarterly posted less than two weeks ago, three days into the ten-session red streak, led to an increase in daily share volume and the ticker taking larger steps down the chart.<\/p>\n

MJNA<\/a> reported sales of $604 thousand, or a little over 25% down from the previous quarter. This number should include sales of CanChew’s steeply priced chewing gum which was available for sale throughout the quarter, yet generated $33 thousand in sales. Without the extraordinary income of $8 million, comprising primarily CannaVEST shares under the PhytoSphere acquisition from early 2013, the bottom line for the quarter would be a loss of $86 thousand.<\/p>\n

\"33MJNA_logo.gif\"This is not exactly the stellar performance and significant growth traders were expecting to take place in the second half of 2013. MJNA<\/a>‘s previous quarterly was not exactly stellar either and hopes were likely high for Q3, with all the PR buzz, product launches and publicity that MJNA<\/a> should have garnered from its participation in expos and trade shows.<\/p>\n

MJNA<\/a> longs are probably keeping their fingers crossed that the price manages another immediate bounce in today’s session and doesn’t slip under $0.10 as breaching that psychological barrier could potentially cause further tremors.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a curious occurrence of synchronicity, yesterday’s session brought the share price of Medical Marijuana, Inc. (OTCMKTS:MJNA) to a close of exactly $0.10 per share after the ticker logged its 10th red day in...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[8],"class_list":["post-3268","post","type-post","status-publish","format-standard","hentry","category-news","tag-mjna"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3268"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3268\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}