agree with your price target if you use MJNA's projections for 2013 &2014. MJNA at $2.50 with guided revenue of $47mil gives MJNA a P/E ratio around 80 give or take. Considering revenue is projected to grow at nearly 300% over the next 2 years, a P/E ratio of 80 is very conservative. Won't be surprised if MJNA pushes higher than $2.5 at year end. With more marijuana legalization being introduced and passed who knows how profitable MJNA can be.
For now the stock will be stuck range bound between .25- .34 until the DOJ issues their response to legalized marijuana in Washington & Colorado, which should be released tomorrow. Hearing is set for 9:30 am. Also, after MJNA release their Q1 statement and their response to the negative SA articles. Two huge pieces of information should drive MJNA past it's resistance levels at .34 and push it back up near .40
I think you are right. The chart pattern shows your predictions and the volume supports it. MJNA has gone from spikes on earnings news to a newer, and higher (pun intended) base. I'm expected $1/share by EOY, but continued revenue gains or expanded legalization could cause explosive share price movement.
Sully; it will go higher THEN $2.50? Then? Higher THAN $2.50. Basic English and you screw it up. 3rd grade writing skills, and they make YOU the lead pumper? At least Dr. Steven can spell. You need to quit writing.
You huffing your own Dutch Oven is what I find amusing. Aggressive growth in an emerging market is usually part of the prerequistes needed to accomplish a large increase in shareholder value.The fact that all the other companies selling hemp food products including oils made from hemp are private companies, and experiencing large increases in revenue year over year, give MJNA an increased advantage as a publicly traded company, as per stock valuation. This company was not intended to be a joke or a scam.
Get Real. Go back to school. Learn about CBD.
Sentiment: Strong Buy