Medical Marijuana Inc (OTCMKTS:MJNA) shares have been down over 10% in a three-month period recently, but that could potentially change after some key developments in the company. Now, if you haven’t heard of Medical Marijuana Inc yet, the company was the first publicly held company focused in the industrial hemp and cannabis space in the U.S.
Medical Marijuana Inc currently operates through its subsidiaries and investment holdings, and focuses primarily on the development, distribution and sale of help oil containing cannabinoids, including cannabidiol, as well as other products containing CBD-rich hemp oil. Additionally, MJNA’s products are formulated for the cosmeceutical, nutraceutical and pharmaceutical industries, and there could be an immense upside potential in the space with the ongoing political changes in the marijuana industry. According to Medical Marijuana Inc, “The Company is not in the business of selling or dispensing either recreational or medical marijuana, directly or indirectly, so long as marijuana remains a federally controlled substance, however, we are poised and consider ourselves well-positioned for eventual cannabis legalization.”
Now that we’ve gone over the company’s background, let’s take a look at some catalysts that could drive the stock higher. Medical Marijuana Inc (OTCMKTS:MJNA) recently announced that its subsidiary company, Kannaway LLC, which was the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, added Kannaway Essential Oils to its line of lifestyle products. That said, the global essential oil market is expected to grow to $13.94B by 2024, according to Grand View Research, and MJNA could ride that wave of growth.
According to Kannaway Chief Executive Officer Blake Schroeder, “We’re excited to provide our Kannaway Brand Ambassadors and customers with this new line of essential oils to add to their exclusive portfolio of natural CBD hemp oil products…With the demand growing every day for essential oils, we believe our new Kannaway Essential Oil line, with its unique mix of terpenes and other natural botanical ingredients, will be popular among our health-conscious consumers.”
The company’s new product line, Kannaway Essential Oils, would feature three products for consumers, which would be under the label:
Immunity – Kannaway Immunity Essential Oil lifts the immune system and bolsters natural defenses against the world. Fragrant natural oils like bergamot, orange, oregano, rosemary, and eucalyptus are combined with the terpene limonene and an expertly formulated Bi-Bong blend of botanical extracts to promote the body’s immune system to function properly.
Energy – Kannaway Energy Essential Oil gives a revitalizing boost to conquer hectic days. The Energy Essential Oil includes an uplifting mix of the terpene Beta-Caryophyllene, essential oils like grapefruit, lemongrass, rosemary, and peppermint, and a carefully formulated Bi-Bong botanical blend to provide stamina all day long.
Tranquility – Kannaway Tranquility Essential Oil can help balance mood, allows relaxation and promotes sleep. Tranquility features ingredients like chamomile, vanilla, rose, lavender, ylang ylang, and the terpene linalool.
This wasn’t the only key development the company had recently. Medical Marijuana Inc recently announced the appointment of Alex Grapov as its International Vice President, which could help to strengthen the company’s European leadership team. Grapov has a vast knowledge in the international business development and expansion space, boasting over 10 years of experience.
According to Schroeder, “We are pleased that Alex will be joining our team as we embark on sharing our products, culture and mission with the people of Europe and all over the world…Alex has worked intimately within the European market space and we believe his background and strengths in sales strategy, product introductions, market expansion, leadership and field development will help ensure Kannaway’s growth in Europe, the second fastest growth region in the world of direct sales.”
That in mind, Medical Marijuana Inc is well-positioned for growth, and the company could potentially grow its revenues and earnings significantly. Consequently, MJNA shares could start to rise after the announcement of these two positive catalysts. Now, if you missed this news, you might want to stay up to date on the news in MJNA, because it could potentially soar in the event of another major catalyst. It’s not too hard to stay up to date on MJNA. All you have to do is type in your email address in the box below, and you’ll be signed up to our free newsletter. Thereafter, we would send you updates, if any, on MJNA.
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in MJNA stock, short or long.