If you are looking into marijuana stocks at this point in time then it could be a good time to perhaps start taking a closer look at the Marijuana Company of America Inc (OTCMKTS:MCOA) stock. It was in focus on Tuesday after it announced its financial results for the fiscal year that had ended on December 31, 2021.
Trading Data
On Tuesday, MCOA stock soared 15% to $0.0012 with more than 76.67 million shares traded, compared to volume of 136.07 million shares. The stock moved within a range of $0.0010 – 0.0012 after opening trading at $0.0011.
Key Details
Investors seemed to have been excited about the financial results and sent the stock soaring by as much as 15% as a consequence. In this situation, it may be a good idea for investors to possibly take a look at some of the highlights from the financial results.
The company clocked record revenues of as much as $1,030,249 for the fiscal year, which worked out to a year on year rise of as much as 267.1%. On the other hand, Marijuana Company of America also managed to cut down on its operating expenses by as much as 2.2%.
In addition to that, the company also noted that it was making considerable efforts to expand into the South American market as well. It may be a good time for investors to start tracking the stock closely.
Key Quote
MCOA’s Chief Executive Officer, Jesus Quintero, said, “We are excited to have commenced deployment of our new acquisitions, streamlining of our businesses and expansion into consumer markets domestically as well as internationally. Our Company has begun its new path to historical results and success. The new positive trends also complement the political market as the U.S. Congress drives toward the legalization of Cannabis, and we are proud to be part of this trend.”
Technical Data
MCOA stock is trading above the 20-Day and 50-Day Moving averages of $0.0011 and $0.0010 respectively. However, the stock is trading below the 200-Day moving average of $0.0024.
