Seeking Alpha

Volatile Medical Marijuana (MJNA.PK -20.4%) falls to $0.23 on the pink sheets after SA authors...

Volatile Medical Marijuana (MJNA.PK -20.4%) falls to $0.23 on the pink sheets after SA authors Ashraf Eassa and Panoplos offer bearish takes. Panoplos notes that while MJNA recently valued an inventory sale/licensing deal with CannaVEST (FCLS.OB) at $35M, based on an assigned value of $5 for the CannaVEST shares issued to MJNA, the actual value of the shares could be much lower. Especially since CannaVEST recently disclosed it has "no customers," and that its sole assets consist of the items purchased in its deal with MJNA. MJNA is no stranger to double-digit swings.
Comments (18)
  • JailDoc
    , contributor
    Comments (47) | Send Message
     
    I dumped this stock two days ago, ahead 12K.
    No more penny stocks for me, I think I learned my lesson.
    21 Feb 2013, 12:34 PM Reply Like
  • Canna Grower
    , contributor
    Comment (1) | Send Message
     
    Thank you Alpha for your insite and email .You saved my bacon on this one.I bought this stock when it was hovering around .005 as a hold to cash in on the green wave .Sold 1/2 of it at .045 and bought other pot stocks.Dumped the rest at .030 on your email. Sorry Coach I dont have any to sell you.........Canna Grower
    21 Feb 2013, 02:05 PM Reply Like
  • blackswans
    , contributor
    Comments (155) | Send Message
     
    Look at Panoplos getting the big mention on market currents. Now quit whining about the submission process! =P
    21 Feb 2013, 12:35 PM Reply Like
  • Headcoach
    , contributor
    Comments (431) | Send Message
     
    They can negative talk about the stock all they want. The fact is that the medical marijuana industry is growing and new states are also looking at new tax revenues. Beside, this is really what it's all about.

     

    States are having problems coming up with money to pay for new road, new schools, new hospitals, new, new, new...blah,blah,blah. And the US government is not helping, especially in Arizona . So states have to figure out new ways to get tax dollars.

     

    Short the stock all you want. The fact is that the industry is a multi-billion industry and it not going away any time soon. So dump the stock so I can buy more.
    21 Feb 2013, 12:55 PM Reply Like
  • blackswans
    , contributor
    Comments (155) | Send Message
     
    As long as they are legitimate in their filings/statements. Personally I would let the stock form a new base before trying to play the long side.
    21 Feb 2013, 01:04 PM Reply Like
  • pottschuck@gmail.com
    , contributor
    Comments (3) | Send Message
     
    Is this stock legitimate or not ..... there revenues say yes but some bloggers say no. WHICH IS IT ???????
    21 Feb 2013, 02:04 PM Reply Like
  • lesliepaul
    , contributor
    Comments (2) | Send Message
     
    I did some serious soul searching before taking a large position Im in for the long haul. I to am upset they cant find a better resistance level but it will be at $4.00 soon and you all may second think the bad boys at the helm. This company didn't pump and dump and didn't run the stock to 5.00 and run. Look at their earnings over the last three years the stock moved up accordingly, the downside pressure comes with all penny stocks they have completed their filing to get up-listed to OTC that should create more exposure. The bottom line is the drug isn't going away in going to be legalized in multiple states soon. The feds are not going to get involved with the state when it comes to health betterment and easier life tolerance. Straight from Obama's mouth. I look for big boys to get involved in the next couple years. MJNA has a great foot in the door they will be the one to deal with at the end.
    21 Feb 2013, 02:05 PM Reply Like
  • cannacarpet
    , contributor
    Comment (1) | Send Message
     
    Why are larger investors buying up so much of this stock? Smaller ivestors seem to be jumping off it like flees. The bid to ask ratios suggest this stock will get another pump very soon from the SA contributors. Then, after even another run up will get the short bash from the SA contributors.
    21 Feb 2013, 02:07 PM Reply Like
  • jakedawg
    , contributor
    Comments (12) | Send Message
     
    I've watched and bought and sold this stock. Remember this is a penny stock and is subject to wide swings. For an ex. chk out MDBX for hi'[s and lo's.

     

    MJNA will probably see .07 to .09 lows. Hopefully not lower. If it goes to 7 or so this will be a higher low - which is a good thing. Then it will languish for a while until some MJ news comes along and up it will go.
    21 Feb 2013, 09:40 PM Reply Like
  • weedrush
    , contributor
    Comments (4) | Send Message
     
    This article has all the earmarks of another forced short play. All of you little guys bailing out due to this biased article will soon be very sorry.

     

    MJNA has been averaging 26 million share traded per day over the last month. And these fools claim there is no market. Many states are now voting on full legalization initiatives.

     

    Got to agree with the Headcoach. Thanks for giving us a second chance to buy more!
    22 Feb 2013, 02:21 AM Reply Like
  • MrMuffinLovin
    , contributor
    Comments (2) | Send Message
     
    The whole point of investing is to put your money towards a cause or product you believe in. Those of us who have invested on the belief that Prohibition is coming to an end shall be greatly rewarded in the near future. Keep up the great work on your site! ( weedrush.us ) The more we know the better!
    22 Feb 2013, 05:55 PM Reply Like
  • Jmac0405916
    , contributor
    Comment (1) | Send Message
     
    I loaded the best I could at .22 today this is way over sold should retest .30 and trade around there for a few days
    22 Feb 2013, 04:27 AM Reply Like
  • smarterthanyou
    , contributor
    Comment (1) | Send Message
     
    Dont be afraid of the TRUTH
    22 Feb 2013, 06:01 AM Reply Like
  • mdmc
    , contributor
    Comments (2) | Send Message
     
    How can I invest in MJNA?
    4 Mar 2013, 08:13 AM Reply Like
  • NoPayment87Cadillac
    , contributor
    Comments (4) | Send Message
     
    I utilize E*Trade.... good luck!
    9 Mar 2013, 01:52 PM Reply Like
  • mdmc
    , contributor
    Comments (2) | Send Message
     
    thanks for the reply.. I set up an optionshouse account..
    22 Mar 2013, 06:07 PM Reply Like
  • Dalilamer
    , contributor
    Comments (5) | Send Message
     
    I punted 160,000 shares of ERBB today at .00059, bought in at .0036.
    It's a good day when you don't lose on a penny.
    I agree with the bunch, anything below .25 is a good MJNA buy.
    Gage in COLO.
    9 Mar 2013, 11:07 AM Reply Like
  • jakedawg
    , contributor
    Comments (12) | Send Message
     
    Read the article in Forbes Mag about the MJ industry. I don't consider a penny stock to be an "investment". I see penny stocks as a bet on what may or may not happen in the future for that industry.

     

    The entire "industry" depends on what the Fed Gov will or will not do about MJ.
    1 Apr 2013, 03:51 PM Reply Like
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