Boston, MA 01/10/2013 (wallstreetpr) – Medical Marijuana Inc (OTCMKTS:MJNA) is riding high on the wave sweeping through the marijuana industry. The good news which started in Colorado over the legal sale of recreational-use pot started the industry hype. The stock remains largely in the green, making significant percentile gains every session. But even in this disproportionate rise, the stock has seen corrections across the board and here lies the secret of trading on hype situation.
Note that trading hype is never a good idea, nonetheless it presents opportunity to make quick profits. As at now, the confidence in marijuana is still low enough that many investors are not willing to hold pot stocks for long. This means that purchasing the stock when it’s low and selling it when it catches a breath of fresh air is the best way to trade marijuana.
This play strategy is particularly true for Medical Marijuana Inc (OTCMKTS:MJNA) that doesn’t show promise beyond the pot hype that is currently pushing up any stock that is related to marijuana. In any case, analysts agree that the future of marijuana stocks is still very uncertain and this should come as warning shot to investors considering long-term positions in these stocks.
That Medical Marijuana Inc (OTCMKTS:MJNA) continues to close in green suggest that the stock can still make you money. However, due diligence in the stock is called for as the swing in investor confidence in pot stocks is widely unpredictable.
Other survivors
Since the start of the pot hype, some companies face tanked while some few have survived and continue to look promising. Besides Medical Marijuana Inc (OTCMKTS:MJNA), investors looking for opportunity in marijuana stocks can also consider while is a good play for shorts, Growlife, Inc. (OTCBB:PHOT), MediSwipe, Inc. (OTCMKTS:MWIPD), Cannabis Science, Inc. (OTCMKTS:CBIS) and Hemp, Inc. (OTCMKTS:HEMP).
Bottom line
Medical Marijuana Inc (OTCMKTS:MJNA) is a good play for quick gains. The stock will still jump and investors have enough room to make money with the stock.
