Marijuana Stocks - Medical Marijuana Inc. (MJNA)
Medical Marijuana Inc. (MJNA) is a company with a market capitalization of $104 million market cap. MJNA describes its services as the “development of cannabinoid based products, and licensing of proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal herb industry.”
I like that Medical Marijuana Inc. appears to set the standard for medical marijuana stocks in its licensing function. What I don’t like are the multiple transactions and reverse mergers that took place to form the company and eventually MJNA stock.
Of course, what really counts are the financials for MJNA stock. Revenue was increasing quarter-over-quarter in impressive fashion for a bit. But in Q3 of this year, sales dropped significantly for Medical Marijuana Inc. compared to any period in 2012. There was also a net loss in the quarter for MJNA stock.
As medical marijuana stocks go, I would have hoped to see ever-increasing revenues and income … but no such luck. I imagine there is competition out there to deal with in the world of marijuana stocks. Maybe that’s why MJNA stock is truly a penny stock, trading at just 11 cents per share. All in all, I would rank MJNA stock a sell.