Medical Marijuana Inc. (OTC:MJNA) has been gearing up for success for some time now, expanding operations and looking towards a bright future. Now, it appears as if the company’s successes will only increase in the future.
MJNA has announced it will be expanding its operations into Europe in the near future. Expansion will also bring Medical Marijuana Inc. to Canada and the Caribbean Islands.
This decision comes at a time when both Italy and the Czech Republic have legalized medicinal marijuana, which MJNA has a full line of products to support.
While stock prices for MJNA have been modestly hovering around $0.30 per share for the past few weeks, the news from the company caused a rather significant boost. According to Hot Stocked, the market reacted with an 11% increase, which has since leveled out.
Traders are becoming more and more enthusiastic, it seems, as MJNA describes its successes and looks towards ways to increase its presence in Europe and other areas abroad.
Medical Marijuana Inc. produces a wide range of cannabis-based products that are specifically meant to be used as over the counter health and wellness medicines. The company’s most successful product has been a high-concentration CBD oil, Yahoo! News reports, although MJNA has many other products that have also been doing well on the market.
This will mark the first time that the company has offered its products outside of the United States, which has investors quite interested in what could occur in the future, both near- and long-term.
One of the major reasons why all of this is noteworthy is the fact that other European nations are looking towards potentially legalizing marijuana and importing marijuana products from America, specifically from states such as Colorado and Washington.
Denmark is a prime example and could provide MJNA and similar companies with more opportunities down the road. The expansion abroad for companies such as this can only be viewed as positive, as it is likely to increase the price of shares and bring on new investors if the momentum continues.
Growth opportunities for MJNA and similar companies aren’t only restricted to bringing things to Europe, however. America presents a great deal of opportunities for medical marijuana companies, as states continue to look into the potential of legalization for a variety of purposes.
Medical marijuana is already legalized in a handful of states, and laws governing recreational use of the drug are starting to pop up more and more. Colorado and Washington, for example, have both legalized the drug for recreational use, and retail outlets (similar to the “coffee shops” of Amsterdam) will be opened in a matter of time. One can only expect that if legalization has occurred in these states, the concept is not far off in other parts of the country.
The expansion of MJNA into Europe likely would not be happening at this moment if it weren't for Italy and the Czech Republic legalizing marijuana for medical use. The Czech Republic in particular has previously been home to sites and facilities that can be used in the production and cultivation of medical marijuana, according to Yahoo! News.
MJNA is looking to capitalize on the opportunity to lease and use these and other facilities in order to further expand its efforts, but it will also be investing in local distributors and producers. This means that Medical Marijuana Inc. isn’t the only party to benefit from this expansion; it will likely have lasting effects on everyone that the company works with.
As the issue of whether or not to legalize marijuana continues to be debated in nations and states throughout the world, MJNA and similar companies are honing their craft and looking towards ways to expand in the future. Legalization can only do good things for those in the industry, and it is certainly worth paying attention to for investors.
The increase in share prices of MJNA's stock is just one example of what a piece of news such as this can do for a company financially, and this is not an outlier scenario. After all, when growth becomes apparent, investors get excited and start putting money where their interests lay.
The more common legalization becomes, the stronger these companies will become.
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