Medical Marijuana (NASDAQOTH:MJNA) is only a matter of months away from its 10-year anniversary as the first publicly traded cannabis stock. Despite its elder-statesman status, however, Medical Marijuana hasn’t been kind to investors since going public. In fact, the stock is down by nearly 90% since its IPO in March of 2009.
Can this beaten-down cannabis stock blaze an epic comeback? Let’s take a deeper look to find out.
The case for Medical Marijuana
The U.S.-based Medical Marijuana is a somewhat unique player in the vast landscape of cannabis stocks. Instead of attempting to compete in the medical or recreational marijuana space, Medical Marijuana is focused on the “development, sale and distribution of hemp oil that contains naturally occurring cannabinoids, including cannabidiol.”
By doing so, the company is able to market its products in most geographies within the United States, as well as in a handful of ex-U.S.