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Alias Born | 01/24/2011 |
Thursday, February 06, 2014 3:07:06 PM
Someone shorting a company in the industrial hemp space wrote an article for SA that pointed out the the company was way, way, way overpriced, considering that its market cap was over $400M yesterday and it only had $2000 in cash and equivalents at the end of 3Q/13. That stock is now down over 25% from yesterday.
MJNA got caught in the downdraft. In my mind, deservedly so, since it's market cap is still much too high, and it only will make income from the sale of products derived from industrial hemp.
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