Medical Marijuana, Inc. (OTCBB: MJNA) up 28% in the past 48 hours.
Medical Marijuana, Inc. Moves Back up to Proper Valuation
This past Monday, there was a piece in the Washington Times entitled, “Government marijuana looks nothing like the real stuff.”
Apparently, the government-approved cannabis that’s being used for government-approved research is shit weed. Wow, what a shocker!
There are likely two reasons for this …
1.) The government is so incompetent it can’t even get its hands on quality cannabis at a time when any adult in this country with a few bucks can score something like this …
2.) The government doesn’t want this research being done with quality cannabis because that could lead to discoveries which would prove that cannabis actually does have medicinal benefits far superior to those medications already approved by the government and sold at your neighborhood pharmacy.
Here’s a picture of the government-approved cannabis …
As reported in Quartz, Dr. Sue Sisley, a doctor in Scottsdale, Arizona conducting research on veterans with post-traumatic stress disorder, told PBS that the cannabis she received through the government looked like green talcum powder.
Lab testing showed it was both moldy and not potent enough for her research. “It didn’t resemble cannabis. It didn’t smell like cannabis,” she said. “They weren’t able to produce what we were asking for.”
Sisley’s complaint, shared by her colleague Rick Doblin at the Multidisciplinary Association for Psychedelic Studies, is that poor quality marijuana mars clinical studies, skews results, endangers patients, and makes understanding what cannabis can really do therapeutically impossible. Doblin told PBS, “NIDA is completely inadequate as a source of marijuana for drug development and research. They’re in no way capable of assuming the rights and responsibilities for handling a drug that we’re hoping to be approved by the FDA [Food and Drug Administration] as prescription medicine.”
We know the government isn’t going to give up prohibition without a fight, which is why I continue to invest in quality cannabis companies. Because quite frankly, change is only going to come when the industry is too profitable to ignore.
So what are we investing in today?
Well, we picked up some shares of Medical Marijuana, Inc. (OTCBB: MJNA) last week after it fell below $0.11 a share. I like the company a lot and believe its properly valued at $0.14. So we sold it this morning and locked in a 23.4% gain.
We may re-enter MJNA at a later date, but for now, here’s how our long-term cannabis plays did today ...
- Aurora Cannabis (TSX-V: ACB) - Flat
- Aphria, Inc. (TSX-V: APH) - Up 2.5%
- Emblem Corp. (TSX-V: EMC) - Down 1.56%
- Emerald Health (TSX-V: EMH) - Down 0.81%
- Innovative Industrial Properties (NYSE: IIPR) - Up 0.12%
- OrganiGram (TSX-V: OGI) - Up 1.29%
- Canopy Growth Corporation (TSX: WEED) - Up 1.56%
Here’s what we’re buying …
- Emerald Health (TSX-V: EMH) – Buying below $1.45
And here’s what we’re watching …