Medical Marijuana Inc (MJNA)

[nopancakemix]

Short? No Way
Shorting a true penny stock under .50 is just stupid. The downside potential for profit is ridiculously low unless you short a ton but then you have a lot of weight to move which makes covering all that more difficult. The potential to get burned on the upside is far too great.

I did short in February at .45 and closed at .29 but let me tell you that was a grand waste of time. Heres how it went down:
I have a significant amount of shares with ETrade and they wouldn't even let me borrow against my holdings for the short position. I contacted Merrill Lynch to see if I could open a short position in that account but could not as I didn't hole shares with them and they do not own shares in MJNA to borrow against. I had to transfer the shares into my Merrill Lynch account, then short against them. What a waste of time not to mention I got ribbed for playing MJ stocks by some of my close friends at ML in NY. I just said they were jealous because the firm can't invest in MJ stocks just yet.