Gediminas Jasionis

Medical Marijuana, Inc. (PINK:MJNA) Stock Pops Up On Industry News

by Gediminas Jasionis October 19, 2010
MJNA_chart.pngMedical Marijuana, Inc. (PINK:MJNA, MJNA message board) is gaining some ground, as well as many other marijuana related companies, in the light of upcoming voting on the California's Proposition 19, which suggests legalizing the recreational use of the substance.

The voting will take place on November 2 and there are many movements supporting the cause. The recently published letter from an array of prominent law professors, which expressed their support on the matter, is currently the most outstanding news driving all the marijuana related stocks.

Penny stock companies like MJNA, might not be in the best shape to take advantage of legalization before their competitors do, but the public status would allow for a quick funding and expansion as interest in such business would grow explosively.

hemp_network_logo.jpgMJNA business is trying to develop into a distributor of various hemp products. The company has recently launched a new product called "Nature's Ancient Wisdom", which is a nutritional supplement made from medicinal mushrooms and hemp protein. The company also operates a marketing website

The stock price had not been getting much increases before the commotion on upcoming Proposition 19 voting. Medical Marijuana's market cap gets easily over inflated due to the large number of shares outstanding which leaves barely any space for extended appreciation.

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