Hong Kong Expansion Sends Small Cap Soaring

Hong Kong Expansion Sends Small Cap Soaring

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, September 1, 2021

When most think of Hong Kong, they likely think of it being a busy place with millions of people with massive corporations, almost like a New York City on the other side of the world. Most probably wouldn’t imagine a place as busy as that would be a good location for a cannabis operational expansion, but today that was proven incorrect. Shares of Medical Marijuana Inc. (OTCPK:MJNA) rallied today after it was announced that its subsidiary, Kannaway has launched its operations in the big city. 

Medical Marijuana Inc. is engaged in the development, sale, and distribution of hemp oil that contains naturally occurring cannabinoids, including cannabidiol and other products containing CBD-rich hemp oil. The company's products are used by pharmaceutical, nutraceutical, and cosmeceutical industries. Some of its products are CBD Capsules, CBD Tinctures, Vaporizers, and Hemp foods among others.

Traders were optimistic that this announcement will lead to significant growth for the company as shares popped up to $0.0325/share (+7.08%) at the session high. This move could be an indication of things to come as the stock attempts to break out of the multi-month trading range it has been corralled by.

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