MJNA stock has shown significant action this week suggesting it is hot on investor's radar. Today, the Medical Marijuana Inc (OTC:MJNA) stock falls into the red—currently down 0.28%—but there's more gas left in the tank here.
MJNA Stock: Hemp is Hot
Companies dealing in hemp are hot right now. Especially since America passed the new Farm Bill in December. Now that hemp is fully legalized, Medical Marijuana Inc can step out of the shadows and is primed to explode in 2019. We are looking at, potentially, one of the leading small-priced shares in this sector.
MJNA stock surged this week, hitting a high of $0.096 USD on January 8th. The surge seems to be a continuation of investor excitement for the updated hemp law in the US.
Hemp Oil Gains
Medical Marijuana, despite its name, doesn't do business in the medical or recreational cannabis sectors. Rather it operates purely within the hemp oil space. So you can see how the new law will mean buckets of potential for this small-cap company in 2019 and onwards.
But MJNA stock has actually had a tepid 2018. One of the main reasons for losing a lot of its value in 2018 has been the ambiguous legal status of products containing CBD in America. Basically, Medical Marijuana Inc has been operating in a market unable to fully embrace the potential of its product.
But now that has changed.
MJNA Stock Boost
The 2018 Farm Bill removed this ambiguity and opens doors for CBD-oil producers just like Medical Marijuana. This is why MJNA stock among other CBD-related stocks are so hot right now. Now is time to take advantage before this market really kicks off.
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MJNA stock is also getting a boost from improving fundamentals.
The company made a 146% increase in revenue over the same period last year. It's clear to see that Medical Marijuana's business is heating up.
The Bottom Line
The current low price of MJNA stock may be off-putting for some investors; how much must the stock grow to return a serious profit, after all? But we are at the very beginning of a whole new market about to kick off. This screams long-term investment potential.
What do you think? Are you ready to get involved in the hemp market?
Featured image: Depositphotos © zhudifeng
