this stock to hit a 52 week high of .50? It certainly was not the legalization of recreational use! There was volume of over 200 million shares that day. What was the news or event?
The event that lead to the .50 pps pop was a totally fabricated lie about current fiscal earnings and their outlook for 2014. I believe they projected 45-47m revenue for '13 and up to 145m revs in 2014 with 50m in cash. They didn't even do 3m revs this year and make no money. Go back to February and look and read the article., then go look at the last earnings report. It was a giant pump and dump scheme oviously. Read the seeking alpha articles from February on from alan brochstein. It is a fact that MJNA's only thc enhanced products are sold thru Dixie ( rdh).... CANV is sueing rdh and rdh is sueing mjna.... lol, confused? They sell gum, shampoo, body lotion and some slimy green stuff for $600 a test tube vile ( rsho)... Well, these are their products, they don't sell many of any of them.
MJNA spent 13m of shareholders money for clinical development of the canchwew gum.... they sold 33k worth of it last quarter, lol. That is a fact! I could go on for days about this company. Buy, sell, hold, go all in, who cares.... People aren't lining up today at dispensaries to buy gum and shampoo and vape pens that don't get you high... they want weed! MJNA sells not one seed of WEED. No revs from weed except a couple brownies, truffels and elixir sodas. PERIOD..... ToiletPaperStrong is a stuck long, he is a blind stoned pumpmonkey, don't listen to him.
Sentiment: Strong Sell
P.S. Dixie ( the only outlet of thc related revs for mjna) Has never paid MJNA one penny of profits from sales. MJNA supposedly owns 60% of dixe ( rdh). They also spent 100k on new funrniture for their new corporate building last quarter. 100k for furniture for 9 corporate employees. Another fact proven in the last quarterly. Spend spend spend!
Those were fun times the run started before legalization that is a fact bought in Dec for the first time at 4.5 cents ended up selling in low and mid .30s AFTER the top. The 2nd move was caused by report of steady earnings increase and P/E started to get crazy low and for a penny stock in an emerging industry making money it just had no choice but to continue to skyrocket. However, then we started figuring out the revenue was quite shady which is why I bailed after the top not before, was I planned on holding for a decade if everything was legit, but soon as I saw major reasons to doubt with CANV deal and so much more I don't have time to get into it, but check my post history from back at that point in time and read the articles. These pumpers are quick to denounce the Seeking Alpha articles, but have never refuted any of the points actually made in them. Good luck PHOT TRTC GWPH FITX are top winners MJNA is toward the bottom with CBIS.. My first ever pot stock was CBIS over 5 years ago I've been around the block check my posts...