Few days ago, Medical Marijuana Inc (OTCMKTS:MJNA) disclosed that it appointed cannabis industry expert and veteran Dr. Stuart Titus as the new CEO of the company. As the news was announced, the MJNA share prices jumped more than 15%, offering some stock to the declining stock. However, the optimism that resulted from the news was short-lived. After posting one trading session of strong gains, the share prices declined and now are trading close to 52-week low.
Change in management
Expressing his views on new role, Dr. Titus said that he is humbled and excited to accept the role of Chief Executive and President of Medical Marijuana. The company has significantly grown from a small startup firm to a company with strong foothold in cannabis market. Medical Marijuana is known for its wide range of cannabis products that excel on quality parameters. Its CBD consumer product line is popular in the cannabis market.
Medical Marijuana broad range of product line has helped many people to enhance their quality of life. The company’s launch of revolutionary products has changed the perception of customers towards cannabis products. The industry is witnessing a new trend that is expected to grow in coming years.
Here, it is important to mention that there are total 23 U.S. states that have approved use of medical marijuana in some or other form. Also, there are many other states that are trying for legalization of medical and recreational marijuana. Although marijuana is approved for medical use in these states, still they are categorized as Schedule I drugs under the Federal Law.
Medical Marijuana showcased its extensive range of products at the ‘Natural Products Expo West.’ The event was planned in the first week of March. Through the event, the company was able to highlight the use of several cannabis products.
In last trading session, Medical Marijuana stock prices posted gains of 0.10% to close at $0.10, with trading volume of 1.79 million.