Medical Marijuana Inc (MJNA)

[globaldata77]

Call me crazy but I see no reason to buy this stock now. The trend is down and has been for months. The fact they have released 3 favorable PR’s in the last week and the price continues to drop makes me think it is going to continue for at least the summer.

Last summer they led people to believe they were making millions every quarter (up 1200% quarter after quarter compared to the previous year) and the price still dropped from 0.15 to under 0.03. They were showing hectors of hemp that was supposedly being grown in Europe, talking about their expansion, new products, new patents etc. and it still dropped significantly. I know because I held during that period thinking it had to go up but it plummeted.

I wish I would have sold when it was 0.15 and bought back 5x the shares when it went under 0.03.

I was hard core buy and hold and I would have made a lot more but I believed in what they were saying.

Now they have lost credibility and the picture today is nowhere near as pretty as it was a year ago.

Too many questions that are not being answered by the company which I don’t understand. If it was my company I would be posting PR’s everyday explaining what was going on and how the shareholder was making money or at least would make money in the future. Example, how much revenue is the sale of gum generating. With the credibility issue that might not help.

I don’t even know what today’s PR means from a revenue perspective. Do they think it will increase revenue 1M or 15M. All it takes is a simple statement. Again, there is that credibility issue.

So call me crazy but until they come out with some credible information about their revenues streams and future projections I think the price continues to go down.

Fool me once, shame on you. Fool me twice, shame on me. I don’t think so this time.

If I have to chase it so be it but at this time I am glad I have sold a majority of my holdings. Losing 20% a week is significant, I can do a lot of chasing at that rate. I think I will wait this time. JMHO

GLTA