Why Marijuana Company Of America Inc (OTCMKTS:MCOA) Shares Jumped 45%

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Marijuana Company Of America Inc (OTCMKTS:MCOA) shares were up 45% on Tuesday to $0.0145 and flat in after hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $28.47 million at 1.18 billion shares outstanding.

Marijuana Company of America Inc is a marijuana marketing and distribution company that was formerly known as Converge Global Inc. It focuses on distributing a range of marijuana products through its distribution platform and its  products are focused on both medical and recreational cannabis use. So far, the company hasn’t been able to generate revenues yet.

In yesterday’s press release, Marijuana Company of America announced its pre-launch of hempSMART Brain product. This product was developed to address the increase in neurologic and neurodegenerative challenges that have prompted a surge in scientific research on prevention or reversal of brain and nervous system pathology. Compared to other similar products, hempSMART Brain is unique because it utilizes a synergistic blend of natural neuroprotective and neuroregenerative compounds, with core ingredients CBD, Astaxanthin, Phosphoryl Choline and Phosphatidyl Serine.

We are very excited to announce the hempSMART Brain pre-launch as we prepare to begin shipping orders in the coming weeks. A lot of time and energy went into developing this product and we are looking forward to getting it into the hands of our customers,” said Marijuana Company of America CEO Donald Steinberg.

In line with their sales and marketing efforts, the company also announced that its website for hempSMART Brain is live and accessible by members. Apart from that, direct sales leaders are also invited to their pre-launch and are encouraged to refer others. This even should help the company gauge initial demand before starting production and making adjustments in their manufacturing pipeline. The product is expected to ship before the end of this month.

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