MJNA Stock Falls Despite Launching a New CBD Pet Product

MJNA stock

MJNA stock is trading down in early morning session despite the news that Medical Marijuana Inc's (OTC:MJNA) subsidiary Phyto Animal Health has launched a new cannabidiol pet product for cats called HempBone Smoked Salmon Bites.

Bites Flavored with Smoked Salmon

The HempBone Smoked Salmon Bites are star-shaped treats for cats that are naturally flavored and soft with a taste of roasted seafood and smoked salmon.

The bites are meant to improve the wellness of cats. Small cats can be given between three and four bites daily, and larger cats should be given a larger portion. Top veterinarians have extensively studied cannabidiol and its role in promoting cardiovascular function, neurological health, supporting healthy joints, and enhancing the emotional behavior of pets.

Despite the news, according to Yahoo Finance, MJNA stock is trading at $0.059, which puts the cannabis stock down 1.50%.

Apple Donuts Gain Popularity

Ian Quinn, the Chief Executive Officer of Phyto Animal Health, stated that another of the company's treat, the HempBone Bacon Apple Donuts, are gaining significant popularity thanks to their palatable taste and the natural allergen-free elements that make dogs to love them.

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The HempBone Smoked Salmon Bites are one-fourth cannabidiol per serving size similar to the percentage in Bacon Apple Donuts. However, they feature a feline-focused flavor that ensures that they meet the dosing need as well as taste preferences of cats. The bites have been recommended by veterinarians, and they are now sold on the Phyto Anima Health website.

A bite has 1mg of CBD derived from hemp plants with less than 0.3% THC and natural smoked salmon flavors with the CBD contents tested and verified for safety.

MJNA CEO Stuart Titus indicated that currently there is an upward trend in CBD pet products in the industry, which is good news for Phyto. He added that Phyto Animal Health leads the industry trend with a variety of veterinarian-recommended pet supplements that have been optimized to meet the needs of various pet species and sizes.

With all this in mind, MJNA stock is still trading in the red today. Why do you think that is? Are investors not interested in CBD pet products? Let us know your opinion in the comments below.

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Featured image: DepositPhotos © AnoushkaToronto

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