Medical Marijuana Inc (OTCMKTS:MJNA) stock price posted a dismal performance in the last month. The stock posted a new 52-week low in mid-March and is again gradually moving towards the lower levels. Last Thursday, the stock price declined 2.5%, close to its lowest close for March. The last time it posted strong gains was on March 18, 2015.
The gains were fueled by the appointment PR of a new CEO and member of the company’s board. However, the gains lasted for just a single day. It also came at a time when MJNA stock price was close to making new 52-week low. Since then it has eroded complete 15% gains that it recorded on March 18.
It is evident that the shareholders and traders are considering the broader picture of Medical Marijuana. The company new Chief executive, Stuart Titus, has relations to the OTC marijuana market that go back in time and connects to CannaVEST Corp (OTCMKTS:CANV). Titus sold all his holding shares of CannaVest before the sudden slide of the company and made profit of $7 million. He is also linked with General Hemp that is the parent firm of Kannaway LLC. It is Medical Marijuana’s latest big acquisition.
The sales growth
In unrelated news, Medical Marijuana stated that Kannaway recorded impressive 42% sales growth in between December 1 to February 25. It has been named for ‘Start-Up of the Year Award’ that makes it the first ever firm concentrating on hemp lifestyle network marketing. The mission of the company is to supply natural cannabidiol hemp botanical items in the market.
Medical Marijuana reported that the total number of Brand Ambassadors with Kannaway jumped sharply by 64%. Jeff Rogers of Kannaway stated that the firm was acknowledged by TAMM. It will always keep on taking all the measures to spread hemp awareness amongst consumers.