Medical Marijuana higher on Q3 update

Shares of Medical Marijuana (MJNA +21.5%) are up sharply (from $0.09 to $0.11/share) as the company provides a Q3 update.

MJNA says it earned "approximately $7.9M" in net income for the quarter ended September 30.

The company also says one of its "corporate portfolio companies [has] acquired the marketing contracts for the highly anticipated Cibdex, Cibaderm, and HempVĀP product lines, adding additional revenue potential for MJNA."

During the period the company's PhytoSPHERE business "received its $10M quarterly payment from CannaVest" — 200K in cash and $9.8M in stock.

Comments (7)
  • Alan Brochstein, CFA
    , contributor
    Comments (7934) | Send Message
    The real story here is that they defended against allegations of product safety issues. I find it interesting that they don't just show lab results to confirm what they are saying. The stock was very oversold before this rally.
    27 Nov 2013, 11:21 AM Reply Like
  • ModerateMan
    , contributor
    Comments (53) | Send Message
    Why doesn't the former employee causing the allegations have the same burden???
    27 Nov 2013, 12:00 PM Reply Like
  • cmcfarling
    , contributor
    Comments (106) | Send Message
    Yea, what were they going to say " she was right, our products are a sham"? No, they'll try to spin everything as positively as possible, but just like everything else with this company it's all bark and no bite. It seems like one big charade to me, that won't end well. Follow the herd on this one and expect to get slaughtered.
    27 Nov 2013, 11:27 AM Reply Like
  • ModerateMan
    , contributor
    Comments (53) | Send Message
    Also as a further FYI: they did release their test-results...

    27 Nov 2013, 02:51 PM Reply Like
  • carolinew
    , contributor
    Comments (5) | Send Message
    Those test results didn't show the content of microbials and foreign residuent. Upcoming marijuana regulations will require testing for those two in order to qualify a cannabis product as a health wellness product or medicine. Right now, it's clear Dixie Botanicals don't meet the standards. All we know is the THC and CBD contents, nothing about purity.
    27 Nov 2013, 05:07 PM Reply Like
  • riotango07
    , contributor
    Comments (69) | Send Message
    Good speculation stock.


    I'm Long.
    27 Nov 2013, 08:41 PM Reply Like
  • joseg
    , contributor
    Comments (3) | Send Message
    good buy at .03 imo.
    29 Nov 2013, 09:45 AM Reply Like
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