Marijuana Company Of America Inc (OTCMKTS:MCOA) heated up late this afternoon skyrocketing off its triple zero base and moving northbound with power as the Senate unanimously approved “the Cannabidiol and Marihuana Research Expansion Act” which cleared the full chamber without debate. The bill streamlines the application process for researchers who want to study the plant and encourages the FDA to develop cannabis-derived medicines. Advocates and stakeholders are eagerly awaiting the formal introduction of the Cannabis Administration & Opportunity Act (CAOA) in April which will decriminalize marijuana at the federal level.
All this points to a possible run on mj penny stocks and MCOA has a long, long history of making parabolic runs during this time. In February of last year MCOA ran from triple zeroes to $0.04 when mj’s heated up and Microcapdaily was all over it. On November 9, 2020 just as MCOA was moving out of the triple zeroes as it is right now before it ran to $0.04 we reported: “Currently running northbound as pot stocks heat up across the board and light up the OTCBB MCOA is an exciting story developing in small caps with a long history of big moves when mjs heat up; its hempSMART products are gaining traction quickly and Company management; Jesus M. Quintero, CEO and Robert Hymers, Founder have been working hard reducing debt and ending dilution.. Microcapdaily has reported on MCOA for years as well as its historic run this time of year 2017 leading into 2018.
Marijuana Company Of America Inc (OTCMKTS:MCOA) operates and invests in the cannabis sector directly. The Company’s wholly owned operations include: CDistro, one of the THC, Hemp & CBD cannabis industries fastest growing distribution companies; hempsmart™, a Premium CBD company, and VBF Brands, Inc., a cannabis nursery cultivation facility in Salinas, California that is a cultivator and distributor utilizing its own growing systems to produce desirable cannabis clones. The company’s core mission is to leverage its experience, and access to capital to identify and invest in acquisitions with unique growth potential in the cannabis and CBD marketplace.
Earlier this year MCOA subsidiary cDistro reached an agreement with Realize Hemp Drinks to begin distribution to retailers of its award winning, Realize Raspberry Drink Mix infused with CBD & THC for the first time on a nationwide basis. cDistro distributes CBD brands, along with smoke and vape shop related products to wholesalers, c-stores, specialty retailers, and consumers in North America. cDistro will initially be selling and distributing the Realize Hemp Drink’s Raspberry Drink Mix (5MG THC + 50MG CBD per drink) and new Citrus-Mango Drink Mix (10MG THC + 50MG CBD per drink). According to Fortune Business Insights report, titled, “Cannabis Beverages Market, 2021-2028.,” The global cannabis beverages market size was USD 574.90 million in 2020. The market is slated to grow from USD 915.06 million in 2021 to USD 19,063.58 million in 2028.
cDistro also reached an agreement with dosist health to distribute its award-winning line of high concentration CBD+ formulas & products. cDistro will expand the rapidly growing distribution locations for dosist health CBD products to drive sales and further establish cDistro in the distribution marketplace. dosist was named by Time Magazine as “cannabis that could replace pills”, was recognized by Fast Company as a top 10 Most Innovative Companies in the health sector, and was named by LinkedIn as the #2 Top Startup on the top 50 list of hottest U.S. companies to work for.
— FisherTrades (@Fisher_Trades) March 24, 2022
In $MCOA because pot stocks on the move
— SM🌐👠🔥💸 (@sm95190513) March 24, 2022
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Microcapdaily reported on MCOA the last time it heated up and saw a major run northbound. On November 9 just as MCOA was moving up out of the triple zeroes before it ran to $0.04 in February we reported: “Marijuana Company of America Inc (OTCMKTS:MCOA) is making a powerful move up the charts as pot stocks are heating up again. 5 states just passed legal marijuana measures, potentially growing the industry by $9 billion. MCOA is one of the original mjs on the exchange that has seen several big moves this time of year and one historic run a few years ago; a run Microcapdaily reported on. Currently moving up off its all-time lows it’s easy to see why smart penny stock speculators are accumulating here.
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Currently trading at a $6 million valuation MCOA has 8,644,982,203 shares outstanding out of a possible 22 billion authorized shares with 1 billion of OS restricted. MCOA has significantly diluted in the past and filings show an ever-increasing share count as time goes on. An SEC filer MCOA filed a 10Q in November for the period ended September 30, 2021 showing $100k in the treasury, $2.3 million in investments and about $4 million in liabilities with at least $1 million in convertible debt which can be converted into free trading MOCA. The Company is doing significant revenues reporting $442,178 in sales for the 3 months ended September 30, up from just $49k for the same period in 2020 representing an increase of over 900% in revenues year over year. MCOA is an exciting story at current levels; reversing out of the triple zeroes MCOA is moving northbound off its floor with power, according to the recent legislation a run on mj penny stocks seems likely here and MCOA has a long history of making parabolic moves whenever mj stocks get hot. This time last year, a run we alerted at its base, MCOA skyrocketed from triple zeroes to $0.04. Microcapdaily has repported on MCOA for years as well as its historic this time of year 2017 leading into 2018. We will be updating on MCOA when more details emerge so make sure you are subscribed to Microcapdaily.
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Disclosure: we hold no position in MCOA either long or short and we have not been compensated for this article.