Medical Marijuana Inc (MJNA)

[jacklanvo99]

MORE DD/EVIDENCE THAT MJNA = SCAM

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113323292

http://stockaholics.net/threads/is-mjna-a-scam.1331/

MJNA scam

Im just cut and pasting and old thread about this company that I initially wrote in 2013

Here we go:


There has been much excitement after last November's election where Colorado and Washington State were the first two states to legalize recreational marijuana. If you are an adult over the age of 21, you can legally be in possession of one ounce of weed.


Naturally this caused a big spike in interest from many people looking to profit from what promises to be a growing trend relaxing the draconian laws surrounding marijuana use.


One of the first things any budding new investor does is look up marijuana companies.

They inevitably stumble across what at first glance seems to be the most promising candidate for investment, MJNA, Medical Marijuana Inc.

Not only does the ticker symbol fit, but the name itself has the words "Medical" and "Marijuana" in it! How can you go wrong?!?

Those of us who have been in the markets for a while know better than to fall for this trick, but not so for new comers. Not only are they falling for the name trick, but they do not realize that MJNA trades on the lowest of exchanges and has a less than stellar history, punctuated by little spikes in price any time a promotion or mention of marijuana legalization hits the news.

Recently on the boards here at hotstockmarket.com, a new member posted his frustrating attempt to buy stock in MJNA was blocked by his broker due to a DTC chill:


Quote:
Originally Posted by gbillig [?IMG]

I have been patiently waiting for weeks to try and get in on MJNA using tdameritrade. when i first received the message, "Order cannot be processed due to a DTC chill restricting the ability to transfer a security and settle the trade", I called tdameritrade to try and get answers. they told me there was nothing they could do, as the DTC has put a restriction on the stock and not them.


There is a good reason that brokers do this, they are trying to protect their most naive and gullible of clients from throwing their money away.



While it may be extremely frustrating for our friend here to have missed an amazing 400% run to 50c from 10c last month, you can rest assured that somebody up there at 50c or where ever the inevitable dump begins will be losing more money than they should have gambled with.



One of the first things you should do when researching a company is to take a look at who is running the show. Simply reading off the bio from the company's own website is not really research, you will never find a company displaying dirt on its own CEO or directors!