Medical Marijuana Inc (OTCMKTS:MJNA) is a name many are familiar with, MJNA was one of the first publicly traded cannabis company in the United States. They recently announced that its subsidiary, HempMeds® Mexico and its cannabidiol (CBD) oil product Real Scientific Hemp Oil-X™ (RSHO-X™), garnered national news headlines across Mexico. This comes on the heals of news of the Mexican Congress passing legislation April 28 to legalize the use of marijuana and cannabis for medical and scientific needs in Mexico.
This is good news for MJNA, as shares are in the middle of the trading range between post election and today.
A look at the Medical Marijuana Inc (OTCMKTS:MJNA) chart below shows the spike and then 50% pullback most are experiencing in this sector as we head to federal legalization.
An article from Mexico newspaper pointed to news articles from major national Mexico outlets discussing how the therapeutic decriminalization of marijuana in Mexico will enable HempMeds® to reach more patients suffering from debilitating medical conditions. This is a theme across all cannabis companies who are public, and it is important for these companies to differentiate themselves as the industry matures.
“We are extremely pleased that the therapeutic benefits of RSHO-X™, including the mention of a recent study by renowned Mexican physician Dr. Saul Garza Morales that found RSHO-X™ to be effective in treating 39 children, have been highlighted in numerous articles discussing the recent cannabis reform in Mexico,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Since becoming the first company to provide Mexico citizens with access to a medical product based on cannabis (THC-free hemp CBD), we’ve been at the forefront of the discussion on cannabis reform in the country and are always thankful when news outlets share the story of HempMeds® and RSHO-X™, because as more news spreads, the more citizens we can help that suffer from debilitating medical conditions.”
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$MJNA 10-Day Chart Below:
Additional coverage from national Mexico outlets include:
- El Economista
- El Norte
- Mural
Medical Marijuana, Inc., started exporting to Mexico to help families gain access to THC-free CBD hemp oil RSHO-X™ after the Health Department of Mexico, COFEPRIS, issued the country’s first-ever government permits on February 2, 2016, to two families, including the Maldonado family whose daughter suffered from a severe form of epilepsy.
Medical Marijuana, Inc. created its subsidiary HempMeds® Mexico after RSHO-X™ product became the first and only cannabis product allowed for import into the country. HempMeds® Mexico works side by side with doctors, patients, and policy makers in Mexico to ensure those in need of CBD have access to it.
The company said, it was their mission is to be the premier cannabis and hemp industry innovators, leveraging the team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. They strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. HempMeds® is a corporate portfolio company of MJNA and the Company’s exclusive master distributor and contracted marketing company, handling sales and distribution.
Medical Marijuana, Inc. (OTCMKTS:MJNA) is a legacy company in the cannabis sector, and anyone who watches the industry keeps this on the radar, and at a $400 million dollar market cap they should. The shares have been trading similar to the group (sector) as a whole, spiking higher and pulling back 50%. This is important because at the higher prices, during the spike, the value of MJNA as a bell weather were nearly $1 billion in value (now 397M). That size market cap will continue to capture investors attention as we transition to federal laws changing.
A billion dollar value means the company has a large shareholder base, as one of the original players in the industry, and is one we will always watch. So make sure you come here to get information on the burgeoning cannabis sector and the cast of characters who make up the universe. For continuing coverage on shares of $MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
