Medical Marijuana Stock (OTCMKTS:MJNA) has emerged as one of many investor’s favorite pot stocks in the legal cannabis universe in 2020. The stock is already up about 10% in 2020, demonstrating how investors have warmed up to the stock early on in the New Year.
Following a disastrous 2019, cannabis investors lost money but have also learned that their best bets are stocks with strong fundamentals. They are looking for companies that have positioned themselves well in the cannabis industry and have what it takes to go for the opportunities. That is why MJNA stock is catching a lot of investor attention in 2020 because of how it has positioned itself in the cannabis market.
Robust revenue growth and strong financial position have also helped put MJNA on the radar of investors hunting for quality cannabis stocks. Revenue at MJNA more than doubled from $26.5 million in 2017 to $60 million in 2018. MJNA is also not in financial distress as may be the case with other cannabis companies out there. The company finished the third quarter, the most recent reported period, with $5.5 million in cash reserves.
Moreover, MJNA has recently taken steps to expand into new international markets and invest in companies that are leaders in their segments. These prudent actions are helping lift Medical Marijuana stock as more investors learn about them.
About Medical Marijuana stock
Medical Marijuana stock is an American hemp/cannabis company with a global footprint. Operating through subsidiaries, MJNA develops and sells cannabidiol (CBD) products around the world and is a leader in this space with several brands to its credit. MJNA has also invested in and partnered with several successful businesses to maximize its potential in the lucrative hemp and cannabis markets.
MJNA unit Kannaway enters more international markets
On January 28, MJNA announced the expansion of its Kannaway subsidiary into Russia, Kazakhstan, and Kyrgyzstan. The entry into these new markets sees Kannaway extend its international footprint and allows it to grow its share of the CBD products market. MJNA stock jumped 6.51% on the news of Kannaway’s expansion into Russia, Kazakhstan, and Kyrgyzstan.
Through Kannaway, MJNA serves the CBD nutraceuticals market, which is growing rapidly. In 2018, the global CBD nutraceuticals market generated $3.8 billion in revenue. The market is on track to $17.4 billion in 2026.
MJNA plans more international expansion in its pursuit of the lucrative CBD nutraceuticals market. In June 2019, Kannaway hired Peter Dale to helm its operations in Japan in readiness for expansion into the country. CBD products have been legal in Japan since 2016, and that has seen Japan become one of the top-2 CBD markets in Asia with annual sales of $800 million.
Medical Marijuana stock expands its Mexican business with a new office
MJNA has moved to expand its business in Mexico, a very promising hemp/marijuana market in Latin America. On January 14, MJNA subsidiary HempMeds Mexico opened an office in Mexican capital Mexico City, adding to the existing office in Monterrey. The opening of the Mexico City office sees MJNA extend its footprint in Mexico just as the country works to expand its marijuana market with the legalization of adult-use products.
The existing medical marijuana market in Mexico generated $47.3 million in revenue in 2018. Mexico’s marijuana market has the potential to grow to over $1.0 billion in 2024 with the legalization of adult-use products.
The new office that MJNA subsidiary HempMeds has opened in Mexico City will help with promoting access to CBD products.
MJNA investment company AXIM Biotechnologies to bolster its fortunes in $183 billion cancer treatment market
On January 9, MJNA announced that its investment company AXIM Biotechnologies, Inc. (OTCQB:AXIM) is in the process of acquiring Sapphire Biotech, a leading oncology research and development company. In January, AXIM Biotechnologies announced that Sapphire had acquired important patents ahead of their merger. The patents will be crucial to Sapphire’s work on the development of cancer treatment.
The global cancer treatment market was valued at $128 billion in 2018 and is on course to hit $182 billion in 2023.
Given its investment in AXIM Biotechnologies, Medical Marijuana stock stands to benefit if the Sapphire deal results in a successful cancer drug.
Medical Marijuana stock is poised for a major breakout. For investors looking for a smart cannabis play, Medical Marijuana stock offers significant upside.
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Disclosure: We have no position in Medical Marijuana stock and have not been compensated for this article.
Is Tilray Inc (NASDAQ:TLRY) A Buy Or Sell?
For Tilray Inc (NASDAQ:TLRY) and the rest of cannabis stocks, 2019 was no doubt a bad year. But 2020 is shaping up to be a promising year for the stock. To start with, Tilray stock has already gained 8.35% year-to-date. If that says anything, it shows following the broad selloff in Tilray stock last year, we’ve got to a point where sellers are giving way to buyers in the stock.
There are several catalysts that should continue driving NASDAQ:TLRY as you’re about to see. First, below is a brief profile of the company we’re discussing.
Tilray is a Canada-headquartered global cannabis company. It is engaged in activities of cannabis cultivation and processing as well as marketing and distribution of cannabis products. Tilray already has several cannabis products brands to its portfolio. It operates across five continents through subsidiaries in Canada, Australia, Germany, and Portugal.
Following the broad collapse of cannabis stocks in 2019, investors are looking for cannabis stocks that can make a positive impact on their portfolios in 2020. Tilray stands out as an attractive cannabis stock pick in 2020. Here are some of the exciting things about the company.
Tilray CEO sees a bright future for the cannabis industry
On January 25, Tilray CEO Brendan Kennedy spoke on Bloomberg. In that interview, Kennedy framed a rosy outlook for the…
Is Cronos Stock (TSE:CRON)(NASDAQ:CRON) A Buy?
Cronos Stock (TSE:CRON)(NASDAQ:CRON) stock fell 9.22% on January 24, marking its steepest decline so far in 2020. The stock plunge followed an important disclosure that you would only expect from a company that is trying to be straight and transparent with investors. Here’s what happened.
On January 22, after market close, Cronos made a regulatory filing detailing changes in its executive team. In that SEC filing, Cronos revealed that David Hsu and William Hilson have stepped down as its chief operating officer and chief commercial officer, respectively. Unfortunately, some investors read bad news in the executive exits and sold their shares in Cronos.
But a careful reading of the filing doesn’t seem to raise any red flags. Therefore, the big stock plunged points to investors panicking to the degree of responding to a mosquito bite with a missile.
There is no doubt that 2019 was a difficult year for cannabis stocks and Cronos Stock is no exception. But before the uncalled for reaction to Cronos’s regulatory filing, we had been at a point where sellers were starting to give way to buyers in Cronos stock. The stock has gained about 8.0% in the past one month. It had gained more than 13% year-to-date before the January 24 big selloff.
About Cronos Stock
Cronos Stock is a Canada-based global cannabis company. Cronos operates through subsidiaries and…
Is Neptune Wellness Solutions Inc (TSE:NEPT)(NASDAQ:NEPT) A Good Bet Right Now?
There is no doubt 2019 was a tough year for the hemp/cannabis businesses. However, there are a few hemp/cannabis stocks that still managed to make their investors proud. Neptune Wellness Solutions Inc (TSE:NEPT)(NASDAQ:NEPT) is one of those stocks. Investors who put their bet on Neptune at a time like this saw their investment increase 130% by July of last year.
Neptune Wellness Solutions is already off to a strong start in 2020. The stock has gained more than 15% in the past week alone. Looking at how Neptune has positioned itself in the hemp/cannabis market, you cannot dispute 2020 is shaping up to be a great year for the stock. Then you notice that Neptune insiders are deeply invested in the stock. Insiders own more than 17% of all shares in the company. The company’s market cap of $280 million shows that insiders alone have sunk $48 million in the stock.
You are about to find out more reasons why Neptune Wellness Solutions looks to be a good pick right now. But first, here’s what you should know about the company we’re discussing.
About Neptune Wellness Solutions
Neptune Wellness Solutions has been around since 1998 and is headquartered in Laval, Canada. It is engaged in the extraction, formulation, and packaging of value-added cannabis products for both Canadian and global markets.
This is shaping up to be Neptune’s year for a number of…