Marijuana Company Of America Inc (OTCMKTS:MCOA) stock continues to elicit strong demand in the market ahead of next week general elections where a number of states are expected to legalize Marijuana for medical use. Development of new use for varying strains and extracts of Marijuana also continues to evoke strong demand on the stock given the market opportunity at hand.
Marijuana Company Impressive Run
The stock is already closing in on its 52-week high of $0.07 a share having rallied by more than 30% on Tuesday a week to the general elections. Marijuana Company of America has been busy on the innovation side of the business having developed a number of products as it looks to take advantage of the ever-expanding marijuana market.
Last month the company-unveiled hempSMART Brain, a product developed to specifically address neurologic and neurodegenerative challenges.
“We are very excited to announce the hempSMART Brain prelaunch as we prepare to begin shipping orders in the coming weeks. A lot of time and energy went into developing this product and we are looking forward to getting it into the hands of our customers,” said CEO, Donald Steinberg.
Competition Threat
What separates the hempSMART Brain from other approved products is the fact that it relies on neuroprotective and neurodegenerative compounds to promote and support brain function. Marijuana Company Of America Inc(OTCMKTS:MCOA), however, faces an uphill task to accrue a substantial amount of market share given that other marijuana companies are also unveiling products targeting the fast growing medical marijuana space.
Puration Inc (OTCMKTS:PURA) is already making a push for market share in the multibillion-bottled water market with the unveiling of its EVERx CBD Infused bottled water. The company is targeting $1 million in sales with the product in 2017. Hemp Inc (OTCMKTS:HEMP) on the other hand, is also flexing its muscle in the industry with an experimental 43-acre hemp crop in the state of Nevada.
