Shares of Medical Marijuana Inc. (PINK: MJNA), a company operating in the medical marijuana and industrial hemp markets, rose sharply in trading today. MJNA shares ended the day 10.87% higher at $0.127 on above average volume of 25.86 million. The stock hit an intra-day high of $0.14 and has now gained 36.17% in the last three trading sessions.
MJNA shares surged today after the company reported its third-quarter financial results. For the third quarter ended September 30, 2012, MJNA reported earnings of $1.19 million on gross revenue of $3million. The companyâ€™s gross revenue for the quarter rose more than 1500% over the same period in the previous year.
Michelle Sides, Chairman of Medical Marijuana, said that MJNA is very pleased with its overall quarterly result. Sides said that the results for the third quarter are a testament to MJNA teamâ€™s hard work, diligence and preparation.
Shares of Cannabis Science Inc. (PINK: CBIS), a development-stage company engaged in the creation of cannabis-based medicines, rose sharply in trading today. CBIS shares ended the day 8.59% higher at $0.0860 on above average volume of 14.22 million. The stock hit an intra-day high of $0.09 and has now gained 36.51% in the last three trading sessions.
Earlier this week, CBIS announced the appointment of Chad S. Johnson, Esq., a Harvard Law School graduate, to its Board of Directors. Johnson has also been appointed as the companyâ€™s General Counsel.
Shares of Hemp Inc. (PINK: HEMP), a company focused on supplying services, products and information related to the medical marijuana industry or to those who have an affinity for the medical marijuana industry, rallied in trading today. HEMP shares ended the day 20.83% higher at $0.0580 on above average volume of 9.20 million. The stock hit an intra-day high of $0.06 earlier today.