has been jumping up and down at full speed, making its next move more unpredictable.
After a price jump on Friday, yesterday MJNA jumped up 18.18% and managed to trade over 4 million shares on the market.
Looks like the positive price change was due to the last news by MJNA. Yesterday, it was reported that Arizona Governor abandoned her federal lawsuit which was blocking the implementation of medical marijuana dispensaries.
The news that the dispensary process may now proceed immediately inspired traders and MJNA got back on track. The question is, how long the up move will resist this time.
On Jan 10, the company reported that its forth quarter revenue has increased over 100%. However, its last financial report stated that MJNA does not have sufficient capital available to fund operations, nor to fund any expansion.
Thus, the company will need to raise additional funds until such time as it is generating sufficient revenues from operations. And in the meantime, MJNA has to find a way to cover its huge losses.
Comments (4)
1. Guest
January 23, 2012, 03:03PM2. Guest
January 20, 2012, 08:01PMVolume in .022-.029 range leads me to believe we will be in the .03s in the near future.
This is the year for marijuana stocks.
Good Luck Eveyone!
3. Guest
January 19, 2012, 04:30AMPrinciple is a very old time smuggler people say. Compassionate?
Problem:they think they are kings of marijuana. ZERO INTEGRITY.
The generation that runs collectives easily see through MJNA as they try convince collectives to join them.
MJNA seems like went they went public to take advantage of the whole California and national medical marijuana movement.
No collectives need nor welcome MJNA's scam approach to mmj industry. MJNA wishes they could get control of collectives.
MJNA's business model agenda continually morphs on a dime, as they scramble to reinvent themselves.
They were washed up from the get go...
Good business happens with integrity.MMJ business is a grass roots movement.
If MJNA added worth to the table they may have done well.
Case & point: Doing a public offering before they had anything of worth to offer exposes lack of integrity , their downfall.
my 2 cents
4. Guest
January 19, 2012, 02:20AMDO NOT BUY THERE STOCK!!!!
You would be better off playing the lottery!!!
They will use someones name to try to lie to public to sell stock.
LIES LIES LIES