Medical Marijuana Inc (OTCMKTS:MJNA) holds the distinction of being the first ever cannabis company to have been traded publicly in the United States and yesterday, the company had been in the news.
Trading Data
On Wednesday, MJNA stock surged 2.59% to $0.0119 with more than 5.05 million shares, compared to its average volume of 4.87 million shares. The stock moved within a range of $0.0111 – 0.0121 after opening trading at $0.0111.
Medical Marijuana, Inc. Subsidiary HempMeds® Mexico Participates in Research Finding Promising Therapeutic Benefits of CBD in Parkinson’s Disease Treatment
Yesterday, the company announced that its subsidiary unit HempMeds Mexico had gone into a collaboration with personnel from the Meritorious Autonomous University of Puebla, Mexico, and the Autonomous University of Barcelona, Spain. The company collaborated with the experts from the two institutions for the purpose of a study that was going to show how CBD might benefit people suffering from Parkinson’s disease. It was a significant new announcement from the company and one that may bring Medical Marijuana into focus among investors.
The study has been carried out by experts in the fields of neurosciences, neuropharmacology and neurochemistry. The aim of the study was to demonstrate the fact that when CBD interacts with some particular neuroreceptors it can often have a positive impact on the health of the central nervous system. HempMeds Mexico had provided its flagship product named RSHO X 5000 for the study. In light of the latest development, it is going to be interesting to see if the Medical Marijuana stock gains any traction or not.
Key Quote
“In our model, we studied the effect of CBD administered to mice that were in a parkinsonian state. CBD administration clearly improved motor performance during the administration of the trial,” said Daniel Limón and Dr. Felipe Patricio of the Neuropharmacology Lab at the Meritorious Autonomous University of Puebla.
Technical Data
MJNA stock is trading below the 20-Day and 50-Day Moving averages of $0.0123 and $0.0133 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0159.
