Yesterday I suggested that Medical Marijuana, Inc. (OTCBB: MJNA) was undervalued at current levels.
Today, the stock closed at $0.13 a share, putting us up 17.54% from yesterday’s close.
Now I’d love to say that my statement about MJNA being undervalued sent droves of investors to their brokerage accounts, racing to buy shares, thereby causing the stock to soar. But I just don’t have that kind of game.
No, the reason MJNA got a nice boost today was because of this press release …
SAN DIEGO, March 14, 2017 /PRNewswire/ — Medical Marijuana, Inc. (MJNA), the first publicly traded cannabis company in the United States, today announced that its subsidiary HempMeds® Mexico is holding a press conference in Mexico City, Mexico, today to reveal the positive results of a recent study conducted by renowned Mexican physician Dr. Saul Garza Morales on the effects of the Company’s Real Scientific Hemp Oil-X™ (RSHO-X™) product in treating children with severe epilepsy.
The study, conducted by Mexican pediatric neurologist Dr. Garza, included 39 patients with Lennox-Gastaut syndrome, a severe form of pediatric epilepsy that typically develops before the age of four. Of those 39 patients, which took up to 5-7mg CBD/kg progressive doses of RSHO-X™ 5000MG, 84% experienced reduction in motor seizures; 53% reported better than a 75% reduction in seizures; and 7 reported a complete elimination of all seizures over a 4-month period, with zero reported side effects.
“The results of this study are very exciting as they show the best results of any product/medication ever recorded regarding the reduction of seizures in Lennox-Gastaut Syndrome patients, with 17% of patients in the study experiencing 100 percent relief from their seizures,” said CEO of Medical Marijuana, Inc. Dr. Stuart Titus. “Studies that prove the therapeutic benefits of CBD are vital, as they will continue to help fuel less restrictive medical cannabis programs not only in Mexico, but across the globe. This is such encouraging news that children with such a severe form of epilepsy now have an option for relief as opposed to a prior bleak diagnosis that offered no signs of beneficial treatment, once the epilepsy moves to the refractory (drug resistant) phase.
“Dr Garza’s study is a huge victory for botanical CBD as opposed to the pharmaceutically developed alternative,” continued Dr. Titus. “We fully believe in the Entourage Effect of the natural botanical product – both in terms of safety as well as efficacy.”
In addition, the study showed twice the efficacy in seizure reduction as per GW Pharmaceuticals’ Epidiolex – with ZERO adverse side effects. In contrast, 79% of children in GW’s Epidiolex study reported suffering adverse effects and 30% suffered severe adverse events. For more information on GW Pharmaceuticals’ study see this report.
HempMeds® Mexico’s zero-Tetrahydrocannabinol (THC) RSHO-X™ was the first-ever cannabis product to receive approval from the federal government of Mexico, COFEPRIS, for importation. RSHO-X™ is also the first cannabis-based product to qualify as safe for World Anti-Doping standards and therefore could be used without concern by Olympic athletes or those who are regularly drug-tested for THC or synthetic THC, including active and retired members of the military, first responders, like police, firefighters, and EMTs, or anyone subject to a drug test.
One of the reasons we picked up shares of MJNA after Sean Spicer told the world that the DOJ was coming after recreational cannabis companies, was because Medical Marijuana, Inc. primarily operates in the medical cannabis and hemp segments.
It was nothing more than an opening to capitalize on a quick dip caused by an irrational reaction to a statement made by a bureaucratic buffoon. These types of things happen all the time, and I certainly make no apologies for taking advantage. You shouldn’t either.
Here’s how the rest of our cannabis stocks did today …
- Aurora Cannabis (TSX-V: ACB) – Down 0.42%
- Aphria, Inc. (TSX-V: APH) – Down 3.47%
- Emblem Corp. (TSX-V: EMC) – Down 4.10%
- Emerald Health (TSX-V: EMH) – Down 2.38%
- Innovative Industrial Properties (NYSE: IIPR) – Up 6.75%
- OrganiGram (TSX-V: OGI) – Down 3.72%
- Canopy Growth Corporation (TSX: WEED) – Down 1.54%
Here’s what we’re buying …
- Emerald Health (TSX-V: EMH) – Buying below $1.45
And here’s what we’re watching …