MJ Holdings Inc (OTCMKTS:MJNE) Stock Gains After a New Appointment

The cannabis space may not have a lot to cheer about in recent times but if you are looking into stocks from the sector then it may be a good move to consider taking a look at the diversified cannabis company MJ Holdings Inc (OTCMKTS:MJNE).

Trading Data

On Thursday, MJNE stock surged 10.36% to $0.3090 with 3.40K shares, compared to volume of 19.10K shares. The stock moved within a range of $0.2920 – 0.3140 after opening trade at $0.3140.

MJ Holdings Inc. announces the engagement of Mr. John Tabacco as VP of Digital Asset Strategy

The stock was in focus on Thursday and had ended up with gains of as much as 10% as a consequence. The stock came on to the radars of investors yesterday after MJ Holdings announced that it had engaged a new Vice President of Digital Asset Strategy in the form of John Tabacco.

Considering the optimism among investors following the announcement, it may be a good idea for investors to take a look at Tabacco’s credentials as a digital asset executive. The Director of Operations at the company, Al Reasonover noted that the addition of Tabacco was a significant one for MJ Holdings since the latter had earlier been the president of Tzero.

Trezo is the digital assert subsidiary unit of Overstock.com. He went on to add that Tabacco is going to lead the company’s efforts to bring about a combination of cannabis products and digital assets.

Key Quote

Al Reasonover, Director of Operations is pleased to welcome John Tabacco, formerly President of Overstock.com Digital Asset subsidiary Tzero, to join MJ Holdings as VP of Digital Asset Strategy. “Mr. Tabacco will lead the Company’s newest initiative developing a corporate strategy to combine a Digital Asset and Cannabis product,” says Mr. Reasonover.

Technical Data

MJNE stock is trading above the 20-Day and 50-Day Moving averages of $0.28 and $0.26 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.27. The company has a total market capitalization of $24.40 million.