MJNA stock is gaining momentum this morning after Medical Marijuana Inc (OTCPK:MJNA) announced that its subsidiary HempMeds recorded its largest-ever sales bookings for the month of July.
Medical Marijuana Inc is a path-breaking company in cannabis due to its distinction of having been the first cannabis company to be traded publicly. Medical Marijuana is well known for having created the planet’s first nutraceutical products that have been derived from cannabis, and today, the company made a major announcement. The company has plenty of subsidiaries through which it does business, and today it announced that its subsidiary HempMeds has managed to clock record booking for the month of July this year. The company stated that it is the biggest month in terms of sales bookings in the history of HempMeds.
HempMeds is a multi-nation operation, with a presence in the United States, Brazil, and Mexico. The rise in the sales bookings for the month is a clear indication of the sort of growth that is currently being experienced by the CBD industry.
At the time of writing, MJNA stock is up 3% at $0.046.
According to researchers, the total CBD sales in the United States alone could zoom past $20 billion by 2024, and Medical Marijuana is all set to be among the major players if that happens. It has been revealed that HempMeds has been able to sign up as many as 100 retail partners and its Brazil operations are also moving along well.
The last week has been a good one for Medical Marijuana as it announced significant news for Kannaway, another of its subsidiaries. According to the announcement, Kannaway has inked a strategic partnership with Californian company Endocanna Health. Endocanna is a DNA testing company, and as per the terms of the agreement between the two companies, the DNA testing technology is going to be licensed to Kannaway.
The technology also allows personalization, and hence, it is a highly important deal. Customers will be able to figure out how their body reacts to CBD. When the news was announced, MJNA stock rose by 3%.
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