MJNA stock has taken a significant hit so far in 2019, plunging 30% to $0.07. Medical Marijuana Inc (OTC:MJNA) has struggled to regain its highs, despite the overall cannabis sector being bullish in recent months.
Despite MJNA stock's underperformance lately, many things have actually gone right for Medical Marijuana. The passing of the 2018 Farm Bill, for instance, has legitimized the company's core business.
Thanks to the revised Farm Bill, Medical Marijuana Inc can now target a broader market for hemp products, without any restrictions
A spike in demand for hemp-based cannabidiol oils is another development that provides unique opportunities for the company to generate significant sales going forward.
Growing Revenue Base
Medical Marijuana subsidiaries, Kannaway HempMeds Brazil and Phyto Animal Helot, are also doing exceptionally well, signaling a record-breaking year for revenues. The trio is fresh from delivering the largest revenue in a month, a development that strengthens Medical Marijuana Inc’s revenue base as well as the ability to generate MJNA stock value going forward.
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“We are proud to announce our success in March. The cannabis industry is growing rapidly in the U.S. and throughout the world and we're excited to be at the forefront of the exciting evolution of cannabidiol (CBD) as a health and wellness product for both humans and animals,” explains Medical Marijuana CEO Stuart Titus.
Investments in its three subsidiaries are slowly paying off, fuelling revenue growth expectations as Medical Marijuana embarks on a robust hemp products commercialization drive.
With plenty of opportunities on the horizon, and the expansion of the cannabis marketplace in North America, MJNA is likely to deliver positive numbers in 2019.
As we mentioned earlier, however, despite the company's successes, MJNA stock continues to languish near all-time lows, selling for $0.065 at the time of writing. As it stands, a reverse stock split may have to come into play as a way of boosting the stock’s value to attract more investors.
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Featured image: Pixabay
