Medical Marijuana Inc (OTCMKTS:MJNA) is a cannabis company with a rich legacy due to its distinction of being the first company in the industry to be listed publicly in the United States.
The company was also the first to have come up with cannabis based nutraceutical products and brand. However, in recent times the Medical Marijuana stock has traded in a range and in this context, it is perhaps important to take a look at the announcement from the company yesterday. On Tuesday, the company announced that its subsidiary companies Kannaway Japan and HempMeds Mexico, in addition to its distribution and manufacturing arm for third parties, recorded historic revenues in the month of July 2021.
As a matter of fact, the company as a whole managed to record the biggest monthly revenues since November 2020. It goes without saying that it is a major development for the company, however, it seems that the market is still a bit cautious about the Medical Marijuana stock.
As a matter of fact, a rally in the stock after the announcement would perhaps not have been surprising either. However, it now remains to be seen if the Medical Marijuana stock can attract the interest of investors over the coming days.