(MENAFNEditorial)
Attention on marijuana stocks has increased since mid-term elections have come to a completion. Despite the fact that the Department of Justice and Congress are at a standstill to make the formal decision on removing marijuana from being a Schedule 1 substance business continues to build in new states. Alaska Washington D.C. and Oregon have all come online and projections are already high citing major market opportunity in these states. Pro-marijuana activists are saying the legalization of recreational marijuana use in Washington D.C. specifically is a huge win. So with that attention in the market has been revitalized and cannabis stocks are starting to gain more interest.
Hemp Inc (OTC:HEMP) recently announced that its subsidiary Industrial Hemp and Medical Marijuana Consulting Company Inc. announced the signing of a consultant agreement with VaporBrands International Inc. (OTC: VAPR) to provide distribution sales and marketing support for VaporBrands’ products in the marijuana nad industrial hemp industry. Hemp Inc. CEO Bruce Perlowin commented "We believe the future of the industry lies in electronic cigarettes with infused hemp oil high in cannabidiols (CBDs). There have been many companies with success in launching hemp oil electronic cigarettes so it's definitely a very viable product."
Since hitting lows last week of $0.0307 the stock price has recovered by nearly .01 with today’s trading session showing highs so far of $0.0415. The added exposure and cross promotion of this agreement with that of VaporBrands could bode very well for Hemp Inc. as this will bring the company into a space that has been sought after as an “alternative” to smoking marijuana bud.
(for more information on HEMP and related companies please visit http://www.investornewssource.com/hemp)
MJ Holdings Inc (OTC:MJNE) has just recently begun to see trading. This company has entered the marijuana space through a “hands off” approach and has taken a more consultative approach. Just a month ago the Company announced that it had financed a lease to Lightshade (a high-end marijuana dispensary serving both medical and adult (21+) customers) to move into a property in Aurora CO. The city of Aurora is Colorado’s third largest city and just opened its doors to recreational sale in October. "Lightshade and the marijuana industry are growing at a rapid pace" said Steve Brooks Owner of Lightshade. "The Havana Street property is a great location and with the assistance from MJ Holdings Inc. in taking over the property they'll be a catalyst for us to take another strategic step forward in becoming the premier dispensary in the state."
(for more information on MJNE and related companies please visit http://www.investornewssource.com/mjne)
Medical Marijuana Inc. (OTC:MJNA) rallied in a big way Wednesday morning. Following lows on Tuesday of $0.12 (the lowest in nearly a month) MJNA’s stock price jumped to highs of $0.155. This followed the company’s more recent quarterly report with shows that MJNA operations resulted in gross margins of 55%. More importantly the filing shows that they reported net income of more than $400000 as compared to the previous quarterly which showed a net loss of $920k
(for more information on MJNA and related companies please visit http://www.investornewssource.com/mjna)
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