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  • Medical Marijuana (MJNA.PK +41.1%) surges after issuing a shareholder update and letter to address what it calls "recent blog articles" attacking the company. MJNA provides a lengthy defense of the CannaVest (CANV.OB) deal, recently the subject of sharp criticism from SA contributor Alan Brochstein, and says it will provide details about the transaction in its Q1 filings, due to arrive by May 15. Also, chairman/COO Michelle Sides insists she hasn't sold any shares in the company. Update: Brochstein defends himself in an Instablog. [View news story]
    As of this week, the COO/Chairman Michelle Sides has registered to sell over 25 MILLION shares within the past 90 days. Obviously she is selling shares. I'm not sure how she stated in a 'shareholder update' that she has not sold any, although she could've sold immediately after typing that and not have lied. Let's not forget though, lying is not illegal. Regardless of when exactly she is selling the 25 MILLION shares she has already registered to sell, the important question is why? The obvious answer is no faith in the company stock price. So, why am I still holding my measly 10k shares...
    May 23 04:48 PM | Likes Like |Link to Comment
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