Best Marijuana Stocks: Medical Marijuana Inc. (MJNA)
11/20 Stock Price: 12 cents
Market Cap: $109 million
YTD Performance: 14%
One of the best marijuana stocks to consider for betting on the legalization of cannabis is Medical Marijuana Inc. (MJNA). That’s because MJNA stock is one of the more heavily traded marijuana stocks, with an average of 6.2 million shares trading hands each day.
As a comparison, GreenGro Technologies (GRNH) does less than 10% of that volume.
Medical Marijuana Inc. runs a portfolio of companies, including CanChew, PhtyoSphere and Canipa Holdings. The companies engage in everything from developing a cannabinoids gum to expanding the presence of MJNA in Europe.
Shares in Medical Marijuana Inc. are up 14% since the start of the year. But as is true with most penny stocks, MJNA has been very volatile. Medical Marijuana Inc. started the year at 10 cents then jumped to break above 45 cents by mid-February. Yet MJNA stock has been trending down ever since.
For the most recent quarter, sales for MJNA were only about $600,000, down from $3 million a year ago, as Medical Marijuana Inc. continues to rack up operating losses.