The Medical Marijuana Stock: Checking In
Posted by Timothy Sykes on Tue 20th of Oct, 2009 07:40:47 AM
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REMEMBER: You have until this coming Friday, October 16th, to register to attend this special event. from the comfort of your very own home or if you can’t make it live buying that 2-day pass will serve as your order for the DVD of the event, which will be 12+ hours of footage and come with an instructional !.
Back in early April 2009, I wrote a blog post about Medical Marijuana, Inc. (MJNA) before they had changed their name to try to lure potheads into investing in the stock.
The company and its press releases stunk of a typical penny stock taking advantage of financially ignorant people, with the added twist that those people who would most likely invest probly weren’t sober.
Well, Examiner.com has a recent article about them summarizing their sketchy stock issuing acitivty:
Medical Marijuana, Inc., formerly Club Vivanet, which had a stunning net profit of $26,040 in 2008. In June of that year it realized $100,000 from issuing 211,926,840 shares of common stock. The next month the company “took back” 210,117,998 shares in a 1 for 20 reverse split. Earlier this year Club Vivanet changed its name to Medical Marijuana Inc., issued a 10 for 1 forward split, and staked its fortune on providing automated tax remittance for medical marijuana dispensaries.
…and talking about the business prospects of taxing medical marijuana. LEt’s see how the stock has performed:
BUMMER DUDE!
While the notion of profiting from taxation remains appealing, this company has done nothing but act like a typical going-nowhere penny stock…until we see some positive change in the stock chart and less hype/fluff press releases, I remain a willing short seller on any spike of this stock…not sure if management is even bright enough to pull off a pump & dump worth shorting so it’s on my back burner.
As my premium subscribers and PennyStocking DVD students understand, and profited $10,000+ last week on one, it’s far easier to find these worthless companies trying to pump themselves up than it is to find the one penny stock out of 10,000+ that is actually real.promising (not even sure there is one!)
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