— MJNA– Article_Below
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Up over 30% and just getting started
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Medical Marijuana Inc (OTCMKTS:MJNA) has so far trailed other pot stocks in 2016. However, this could change pretty quick as Medical Marijuana Inc is one of best known names among pot stock enthusiasts. We think this is more likely than not as a new marijuana Green Rush looks to be starting.
We’ve been talking about this ever since 2016 rolled around. Roughly 14 states could legalize marijuana this year, adult-use cannabis or possibly both, either at the ballot box or through state legislatures. While it’s doubtful all those states will be successful, there’s a good chance at least a handful will legalize in 2016. No other single year has offered such incredible promise in terms of the sheer volume of states that could legalize, thanks to other pioneering marijuana markets and growing support for cannabis in general.
The ArcView Group just reported that legal sales of cannabis grew to $5.4 billion in 2015, up from $4.6 billion in 2014. Demand is expected to remain strong this year and the research firm forecasts sales of $6.7 billion. Nonmedicinal adult use accounted for $998 million of the total sales in 2015, up from $351 million in 2014, according to the ArcView/New Frontier report summary.
The most surprising aspect for us at Insider Financial is the fact that marijuana stocks have underperformed the major market indices. This sector is probably the fastest-growing industry in America right now and most of the public companies in the space are trading for pennies. With the potential interest coming from all walks of life, we think you’ll see bottom fishers looking for a place to invest.
Pot stocks got active this month after GW Pharmaceuticals plc (NASDAQ:GWPH) reported a successful phase three clinical trial that proved its drug Epidiolex significantly reduced seizures in children with Dravet Syndrome. This news created momentum across the entire marijuana spectrum. Investors see the potential for cannabis-based drugs to replace addictive pills like Oxycodone. Many are now seeing the bigger picture with cannabis and that it’s not just for recreational use, but can also treat diseases. This will lead to more widespread acceptance and get not only Wall Street behind pot stocks, but the regulatory environment in Washington DC as well. These two factors will send pot stocks exploding up the charts.
Medical Marijuana Inc is at the forefront of this explosion. The company describes its mission as “to be the premier cannabis and hemp industry innovator, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value.”
MJNA’s most profitable division is HempMeds, an exclusive master distributor for MJNA that provides cannabidiol (CBD) products made from industrial hemp that are already available in all 50 states and more than 40 countries. The unit boasts fast growing revenues and reported $2,876,438 in sales in Q3.
Lately, the company has been getting a lot of press for its portfolio investment company Kannalife Sciences Inc, a phyto-medical company involved in the research and development of novel therapeutic agents designed to be neuroprotectants and immuno-modulators. Kannalife is currently conducting research and development at the Pennsylvania Biotechnology Center in Doylestown, PA, for target drug candidates to treat Hepatic Encephalopathy (“HE”) and Chronic Traumatic Encephalopathy (“CTE”). HE and CTE are oxidative stress related diseases that affect cognitive and behavioral functions. Kannalife is preparing a Series B Offering, where the Company seeks to raise $5 million to $10 million, and also a possible IPO.
Currently trading at a $71 million market cap, shares of Medical Marijuana Inc have not performed as well as other pot stocks like TRTC, CBDS, CBIS, HEMP and CANV. However, if pot stocks keep running like we think they will, investors will start looking at laggards like MJNA that are due to catch up.
Source: Insider Financial
SCS LLC has not been compensated for this article.
SCS LLC was previously compensated up to twenty thousand dollars each by star media llc for the mention of INVT and XXII however those contracts have expired.