{"id":6948,"date":"2015-09-24T14:13:44","date_gmt":"2015-09-24T14:13:44","guid":{"rendered":"\/?p=6948"},"modified":"2015-09-24T14:39:32","modified_gmt":"2015-09-24T14:39:32","slug":"medical-marijuana-inc-otcmktsmjna-locked-in-free-fall","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-locked-in-free-fall\/","title":{"rendered":"Medical Marijuana Inc (OTCMKTS:MJNA) Locked in Free Fall"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91429\/mjna_chart.png\" border=\"0\" width=\"450\" \/>Over the course of the last five sessions, Medical Marijuana Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>) dropped nearly 20%. The stock logged five consecutive red days on the charts and is struggling to scrape to a halt and stop this downward slide. Yesterday <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> closed another 5.9% down, stopping at $0.031 per share.<\/p>\n<p>The company has been struggling on the charts for months but the recent weeks saw <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> hit a number of fresh 52-week lows. This could be cause for alarm, considering the stream of optimistic press releases coming from the company over the last couple of months, including multi-million dollar purchase orders, new product launches and an expansion into Brazil through an agreement with the country&#8217;s government.<\/p>\n<p>The bottom line of all the PR should have been exuberant enthusiasm about the bright prospects in front of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> and especially in front of Kannaway, its latest and greatest acquisition. Instead, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> is struggling to stay level and stop the decline in price.<\/p>\n<p>Here is what the company published in its latest quarterly that went up on Sep 1:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>$475 thousand in checking\/savings<\/li>\n<li>$4.4 million in current liabilities<\/li>\n<li>$2.2 million in quarterly sales<\/li>\n<li>$5.6 million in quarterly net loss<\/li>\n<\/ul>\n<p>Those figures are likely a significant part of the reason why investors can&#8217;t get excited about <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> despite all the upbeat PR that is beaming forth. Sales are down QoQ, while net loss has ballooned massively. Kannaway&#8217;s acquisition is recorded as a $100 million asset on the company&#8217;s balance sheet. Some might argue that its revenue contribution so far does little to justify such a valuation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the course of the last five sessions, Medical Marijuana Inc (OTCMKTS:MJNA) dropped nearly 20%. The stock logged five consecutive red days on the charts and is struggling to scrape to a halt and&#46;&#46;&#46;<\/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-6948","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\/6948","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=6948"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6948\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}