$MJNA NEWS: Medical Marijuana, Inc (PINK: MJNA) is a Penny Stock to Watch!
Massive Revenue Growth Means Medical Marijuana, Inc (PINK: MJNA) is a Stock to Watch!
Over the past few years the Medical Marijuana industry has exploded and this fledgling multi-billion dollar industry has already produced some big winners on the OTCBB that have made some epic runs. Take CBIS for example which ran from around a penny to over $0.25 per share earlier this year for gains of well over 2,000%
Medical Marijuana, Inc (PINK: MJNA) has been on the move over the past few sessions as the Company announced some pretty spectacular results; they announced that for the 2nd quarter 2012 they had earnings of $1.47 million on gross revenues of $2.4M representing a 1,200% increase from the 2nd Quarter 2011 when they reported under $200K in revenues.
According to Ted Caligiuri, President of MJNA "The second quarter of 2012 cemented Medical Marijuana, Inc.'s path” he went on to say “As witnessed by our strong quarter-over-quarter and year-over-year growth, there is tremendous opportunity in this industry and that opportunity is growing rapidly at home and abroad. With the acquisition of the Dixie brand we have secured our product development, manufacturing, sales and customer services platform, which now enables the company to focus on developing its online sales and retail sales, while allowing MJNA to develop and acquire additional brands and integrate them seamlessly into our overall sales platform thus allowing our strong growth to continue”
Not only has MJNA experienced spectacular revenue growth over the past year their cost of revenues and operating expenses are quite low; there are plenty of other penny stock companies that do fairly decent revenues but very few actually have earnings which puts MJNA in a class of its own.
According to the last filing on otcmarkets MJNA has virtually $0 debt and well over $4M in cash, as well it shows that the Company spent $1M purchasing their own stock on the open market. While none of this can be verified as the co’s filings are unaudited if we believe what they are saying then these numbers would suggest that MJNA has an eye on moving to a higher exchange in the future; at least to fully reporting OTCBB.
Conclusion: MJNA has seen some important developments over the last few months as well as rapid growth in revenues the likes of which are rarely seen on the OTCBB. The stock is technically sound and still trades very close to its historical lows. While MJNA stock is still quite cheap they have developed the type of loyal following that catapulted CBIS to 2,000% + gains. All this Makes MJNA a stock to watch and might just provide a spectacular trade opportunity in the weeks and months ahead!
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