{"id":3757,"date":"2014-01-30T15:11:23","date_gmt":"2014-01-30T15:11:23","guid":{"rendered":"\/?p=3757"},"modified":"2014-01-30T15:11:30","modified_gmt":"2014-01-30T15:11:30","slug":"medical-marijuana-inc-otcmktsmjna-retreats-further-drops-more-news","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-retreats-further-drops-more-news\/","title":{"rendered":"Medical Marijuana, Inc. (OTCMKTS:MJNA) Retreats Further, Drops More News"},"content":{"rendered":"

\"915MJNA_chart.png\"As the share price of Medical Marijuana, Inc. (OTCMKTS:MJNA<\/a>) doubled over a four-session streak that culminated on Monday, the ticker attracted the attention of even more investors and shifted a record 117 million shares on Tuesday. However, the price run was cut short and the ticker turned red. Yesterday volume was cut in half but was still enough to place MJNA<\/a> on top of the most heavily traded OTC stocks list. <\/p>\n

At yesterday’s open it looked as though MJNA<\/a> was back on track as the price took off. The climb did not last and the ticker reversed, dropping to $0.30 before noon. The price recovered a notch and remained mostly flat throughout the day, stopping at $0.33, or 14.7% down by the bell.<\/p>\n

The drop could be explained from a purely technical point of view, as similar runs are often very difficult to sustain. Mixing heavy share volume with a rapid climb creates a volatile environment. Yesterday’s slip was smaller in its scope than the February 2013 tumble and it was not just MJNA<\/a> who retreated but almost the entire pot sector.<\/p>\n

With its news release on Tuesday MJNA<\/a> made a bid to enter a different facet of the green leaf industry. The company announced one of its subsidiaries and a security company will be forming a new entity named MPS International (MPSI). MPSI will function as a security company providing services to marijuana businesses, offering everything from armed guards to armored cars. The market’s reaction was frenzied volume culminating in a drop which deepened yesterday.<\/p>\n

\"34MJNA_logo.gif\"The company just came out with a new press release, informing that HempMedsPX, a marketing and distribution portfolio company of MJNA<\/a>, signed an agreement with a ‘home-based business organization’. The agreement stipulates that HempMedsPX will supply CBD-based anti-aging products to the organization and the first order is will be in the amount of $1 million. Coming on the heels of yesterday’s drop, this release, especially coupled with the order dollar figure in it, is almost certain to prop MJNA<\/a> up.<\/p>\n

MJNA<\/a>‘s annual report for 2013 is due sometime between now and late March but the company usually files ahead of deadlines. The report will be essential reading for longs, especially if MJNA<\/a> includes a blow-by-blow account of revenues generated by each of its subsidiaries and details surrounding MJNA<\/a>‘s current relationship with CannaVest and their share payment agreement which should have been cleared by the end of 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"

As the share price of Medical Marijuana, Inc. (OTCMKTS:MJNA) doubled over a four-session streak that culminated on Monday, the ticker attracted the attention of even more investors and shifted a record 117 million shares...<\/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-3757","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\/3757","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=3757"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3757\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}