In a video statement, the Chief Executive Officer of Medical Marijuana Inc (OTCMKTS:MJNA) Stuart W. Titus, PhD, stated that the company mission is to inculcate positive change through cannabis. The CEO stated that there are a number of industries that are expecting cultivation of hemp begins soon in the U.S.
The growing industry
A report reveals that the legal cannabis industry in the U.S. is worth $2.7 billion. The industry is expected to cross the mark of $36.8 billion once cannabis is legalized all over the country. There are many states that are trying to legalize cannabis.
One of such states is Oregon that is going to become the next state to legalize recreational use of cannabis. In fact, Oregon is the state that has more number of medical cannabis dispensaries compared to McDonald and Starbucks’ locations. The report stated that Washington’s and Colorado’s combined recreational adult consumption market is expected to touch $800 million by 2020.
The initiatives
Medical Marijuana Inc (OTCMKTS:MJNA) team had devoted many years and made significant investment to make the largest “CBD hemp oil pipeline” in the world. The unique pipeline is connected to all states in the U.S., different countries and territories around the world. The company has diversified portfolio brands which include, but not limited to HempMeds, Kannaway, Dixie Botanicals, AXIM Biotechnologies, Inc., KannaLife Sciences and MPSI.
All of these brands are educating people on the importance and role of hemp in improving economy, global environment and lives of people worldwide. One of company’s portfolio firms, MPSI, is known to give superior cannabis security services to budding cannabis industry. The CEO of MPSI, Michael Julian said that it is the best time to become a part of growing cannabis industry.
In last trading session, the stock price of MJNA declined over 6% to close the trading session at $0.0620. The decline came at a share volume of 4.57 million compared to average share volume of 2.65 million.
