Medical Marijuana Inc (MJNA)

[Alan Brochstein]

My sentiments exactly...

I still believe in the long term potential, just not happy with some things at the moment.

I have spent a lot of time learning about the company. When I first looked into it, they were doing very cheesy things in my view. I really think that they are trying to clean it up and take a long-term perspective. We can argue about the upside potential - it's hard to quantify. We can argue about the downside risk (they have serious near-term issues if they can't start cash flowing positive). But, we can all agree, I think, that they are moving in the right direction, just slowly.

Gupta's 180 screwed a lot of people in my opinion - fast-money chasers willing to pay as much as 2X the price from just days ago. I could be wrong about the risk of .05-.06 and am trying to be clear that's NOT MY PREDICTION. In fact, post-Gupta, I may need to rethink this. But, it's not time yet for MJNA in my view. Their go-to-market strategy seriously lags their product capabilities. This will hopefully improve, especially as their input prices come down. Education and affordability are necessary to grow the market. When I see crap like fake Amazon reviews for RSHO and Dixie Botanical Dew Drops, it makes me wonder if they are even on the right path. Charles Vest has definitely done some things that have taken it up a notch - I have said as much.

If you don't read my article, I can summarize it in one sentence: The tires are still flat. The huge reaction this past few days to a real positive longer-term driver shows that if MJNA can follow through with its transparency, continue to develop unique products and fix its capital structure, the sky could be the limit...