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Penny Stock Roundup: Medican Enterprises Inc. In The Scope

Marijuana, Cannabis in the news
Marijuana, Cannabis in the news
Photo by Theo Stroomer/Getty Images

Penny Stock Winners 03.04.14 : Medical Marijuana Company Gets Jump On Price

Medican Enterprises, Inc. (OTC: MDCN) took a leap today, ending their trading day at $3.49, up $1.08(44.81%). According to OTC Markets.com, the company is described as: "... a health sciences company headquartered in Las Vegas, NV. The Company works with leading authorities on cannabis and is at the forefront of Medical Marijuana ("MMJ") production, cultivation, and wholesale distribution of cannabis related products. Through its wholly owned subsidiary, MediCan Systems, the Company is looking
to become one of Canada's first commercially licensed Producers of Medical Marijuana ("MMJ")

Analysis

With Medical Marijuana being the buzz word in the nation right now, it's not surprising companies such as these are looking to cash in on anything Cannabis. Looking at the charts it seems this penny stock took a turn upwards around 1 p.m., jumping far from the $2.60 mark. This is the highest it's been on price in three months.

The only real news coming out from this company happened late last year in their release of an accounting firm. It's not known at this moment what has caused the jump. More information to follow as this develops.

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