Since we recommended buying Medical Marijuana (MJNA.PK) it’s up 89%. Other pot stocks are also doing well, such as Cannabis Science (CBIS.OB) up more than 2% today. There wasn’t any news release today that would cause the stock to rise so sharply. We suspect that the company has been discovered as a profitable investment for reasons we’ve outlined before, as well as a growing interest in the budding Marijuana industry.
We couldn’t write a specific article on MJNA because it was still a micro-cap, but now its market cap is 148M. Currently it’s trading at .202 which is its current all time high. The stock has proven itself as a true small cap representative of a new growth industry.
Many traders know the mantra “Don’t buy the high” which has solid foundation. But we believe Medical Marijuana is going higher, and here’s why.
Unlike other companies in the pot business, Medical Marijuana has solid revenue and prospects for revenue growth. Their gross revenues increased 1,100% from the previous year quarter.