Jeff Smith 2 p.m., Dec. 18
Medical Marijuana, Inc. Stock Down
Stock of San Diego's Medical Marijuana, Inc. is down 10.71% this morning. Friday it closed down around 6% — not surprisingly, given federal officials' crackdown on California pot dispensaries, announced Friday. Volume Friday was almost 2.5 million shares, three and a half times normal volume. Medical Marijuana, based at 2665 Ariane Drive, provides business management solutions to the hemp and medical marijuana industries. The company, formed in 2009, also operates the Hemp Network, a network marketing platform providing consumers with hemp products, according to Yahoo! The stock sells for 3 cents. That's down 72.73% from a year ago. The stock traded at 7 cents for much of July. Warning: this stock is traded on the pink sheets, a publication that provides bid and asked prices on over-the-counter stocks. Pink-sheet stocks do not have to meet minimum requirements of the Securities and Exchange Commission or file regular financial reports.
Thanks to Matt Potter for alerting me to this company.
More like this:
- Florida pot-stock promoter backs Brewer for D.A. — May 27, 2014
- Spike in income, profits for local marijuana-focused company — Jan. 23, 2013
- Local Firm Purchases Rights to Patented Cannabis Ingestion Method — April 4, 2012
- Medical Marijuana Inc. Reports Jump in Revenue — Feb. 6, 2012
- Marijuana Extract Pills Coming to Market — July 11, 2011