I have gone back and forth on MJNA over the past few years while investing in a few of the cannabis-related penny stocks in addition to GW Pharma.... I have a majority of my portfolio in individual stocks that are NOT of the penny variety and I spend most of my day actively trading calls and puts on large cap names (in the past I was a S7/S66 broker).
I have been wary of many of these penny names, although I have made a very good amount of money over the last 2-3 years trading in and out of a half-dozen of them (including CBIS, HEMP, FITX, LATF, NVLX, ENDO, MWIP, ERBB, GRNH, etc.). I have largely sold out (keep small amounts still but do not trade it at this point) of these names at or near the recent highs and have no plans to re-invest money at this time.
I have been amazed at how much negative press and lack of understanding there is about MJNA. I feel that the FINRA warning to investors about marijuana stocks has allowed ignorant people or bears/short investors to have an easy excuse to laugh at the longs. I constantly read about the fact that MJNA is all about hemp and not marijuana (as if this is a negative). Now, I like and occasionally smoke pot and would vote to see it legalized. This is irrelevant to the business opportunity in this case. I like the market share of MJNA, the relative low p/e on the stock (even with the CANV payments backed out), the focus on legal/medical options that are derived from Hemp (which is more easily grown for high CBD levels that marijuana). Many focus on this "Charlotte's Web" being allowed into their state while missing that this would still be a lengthy process that would end in nothing but a race in short term supply/demand. The only problem I see at MJNA right now is the still relatively high cost of the hempmedpx /RSHO products. I hope to see this cost continue to come down (see recent sourcing of Hemp from within US for RSHO) and the marketing effort continue to bring new customers to MJNA. The fact is that there is an incredible market for CBD-only / legal hemp-based extracts in this country and many others. I am all about legal cannabis but I find it funny that enthusiasm for one form of this plant causes people to overlook the easy and obvious answer. I would say to folks please do your own research on MJNA. I have finally decided that there is no other option but to buy into MJNA again ahead of Q1 earnings. The resolution of Dixie/red dice has only strengthened my feeling that it is a good buy now while beaten down with all the other penny names.