Marijuana stocks fell flat Monday, unable to withstand the market downturn.
Shares of Cannabis Science Inc. (OTCMKTS:CBIS) took one of the bigger hits from the popular marijuana stocks, trading down at $0.112 -0.029 (-20.21%). The stock had closed Friday trading near $0.14.
Another marijuana stock favorite, Tranzbyte Corp. (OTCMKTS:ERBB), also took a blow to the gut, trading at $0.0580, down 0.0134 (-18.77%). Medical Marijuana Inc. (OTCMKTS:MJNA) continues it's path to obscurity, closing today's trading at $0.259, down 0.019 (-6.83%). even with news of their completed joint venture with LiveWire Erogentics, the company was not able to withstand the market slump. MJNA reported this morning the completion of the Hempwire venture that, "...stipulates that Medical Marijuana Inc. and LiveWire Ergogenics ("LiveWire") will equally split the net profits (50/50) from all cannabidiol (CBD)-rich hemp oil functional food sales distributed through HempWire.." a company press release announced today.
More notable marijuana stocks that weathered the market drop Monday included Medbox Inc.(OTCMKTS: MDBX), who only dropped 2.98 percent, Cannabis Capital Corp. (OTCBB:CBCA) closed Monday down 0.11% percent.
The biggest drop for investors probably came with Growlife Inc. (OTCBB:PHOT), who, after closing Friday's trading at $0.57, closed down 8.79% at $0.520.