If you’ve spent any time looking at the pink sheets lately, you’ve probably seen it. A tiny ticker symbol flashing deep in the sub-penny basement. Medical Marijuana, Inc. It sounds like a titan. The name alone carries the weight of an entire industry. But look at the stock price for mjna today and you’ll see a very different story. We are talking about fractions of a cent.
As of mid-January 2026, the stock is hovering around $0.0003.
That is not a typo. It’s a number so small it almost feels abstract. You could buy thousands of shares with the change in your cup holder. Honestly, it’s the kind of price that attracts two types of people: the "Lotto Ticket" dreamers and the skeptical veterans who remember the 2014 hype. But why is it still there? Why hasn't it vanished or boomed?
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The Reality of the Stock Price for mjna
To understand the current price, you have to look at the sheer weight of the shares. There are over 10 billion shares outstanding. That is a massive, heavy number. When a company has that much "paper" out there, moving the needle becomes a Herculean task. Imagine trying to push a cruise ship with a kayak paddle.
Despite being the "first" publicly traded cannabis company in the US, MJNA has spent years navigating a regulatory minefield that would make a demolition expert sweat. They aren't just a weed company. They’re a CBD company, a wellness company, and an international distributor through subsidiaries like HempMeds and Kannaway.
The 2026 Landscape: Why the Needle Isn't Moving Fast
You’d think the recent chatter about federal rescheduling would have sent this thing to the moon. In December 2025, when the news hit that the Trump administration was finally pushing through a "common sense" executive order to facilitate medical research, the entire sector breathed a sigh of relief.
But MJNA didn't rocket. Why?
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- OTC Status: Being on the OTCPK (Pink Sheets) means many institutional investors won't touch it. It’s the Wild West of trading.
- The "Expert Market" Trap: For a while, some brokers wouldn't even let you buy it because of SEC Rule 15c2-11. They've since verified their profile, but the stigma of "unsolicited quotes only" still lingers for many retail platforms.
- Revenue vs. Market Cap: Their TTM (Trailing Twelve Months) revenue sits somewhere around $58 million, yet the market cap is only about $3 million. On paper, that looks like a massive disconnect. Normally, a company making $50M+ shouldn't be worth $3M.
What Most Investors Miss
People often get caught up in the "Medical Marijuana" name. They think the stock will rise if recreational weed is legalized in more states. That’s a mistake. MJNA’s bread and butter is CBD (Cannabidiol) and hemp-derived products. Their fate is tied more to the 2024/2025 Farm Bill updates and international export laws than to a local dispensary opening in Ohio or Kentucky.
They have a massive foothold in Brazil. HempMeds Brazil has been working with the government there for years to get products subsidized for conditions like epilepsy and Parkinson’s. If you want to know where the actual value is, stop looking at US retail and start looking at South American medical subsidies.
The Moving Average Game
Technically speaking, the stock recently crossed its 200-day moving average. For a penny stock, that usually triggers some "Buy" alerts on scanners. We saw a brief jump from $0.0001 to $0.0003—a 200% gain in a few days.
Sounds amazing, right?
Well, it is if you’re a day trader. If you’re a long-term holder who bought in at $0.05 five years ago, it’s a drop in a very large bucket. The volatility is extreme. On January 16, 2026, the stock fluctuated 100% between its high and low in a single session. That’s not a stable investment; it’s a heartbeat on a monitor during a sprint.
Is There a Future for MJNA?
Honestly, the "Buy and Hold" strategy for MJNA has been a painful road for many. The stock is down over 99% from its all-time highs. But the company itself isn't a "shell." They have 22 employees listed, a physical manufacturing facility in Vista, California, and they are still filing reports.
They recently retired about $10 million in debt. That’s a big deal. A company that’s planning to go bust doesn't usually bother cleaning up its balance sheet. They are positioning themselves for something. Whether that's an eventual uplisting or a buyout remains the billion-dollar question.
Actionable Insights for the Curious
If you are looking at the stock price for mjna as a potential play, keep these points in mind:
- Check Your Broker: Not all platforms allow trading of "sub-penny" stocks. Some charge "surrender fees" or "foreign settlement fees" that might be more expensive than the actual shares you're buying.
- Watch the Volume: If you see volume spike over 100 million shares, something is happening. Otherwise, it’s just noise.
- Read the 10-Q: Don't listen to Twitter (X) "gurus." Look at the actual SEC filings. Are revenues declining? Is the "Unusual Expense" line growing? They had an $8.98M unusual expense in 2024 that ate their lunch—find out why before you dive in.
- The Brazil Factor: Keep an eye on Brazilian health regulatory news (ANVISA). MJNA’s growth is heavily dependent on that specific market.
The stock is a survivor. It’s been through the 2014 bubble, the 2018 crash, and the 2022-2024 sector-wide depression. It’s still standing, even if it’s currently valued at less than a grain of sand.
The next steps for any interested party involve a deep dive into the 2025 year-end financial statements expected in May 2026. Review the cash flow from operations specifically; if they can turn their $58M in revenue into consistent positive cash flow without further share dilution, the current "floor" of $0.0002 might finally become a memory.