The cannabis industry is growing with sales up over 70% in 2020. How is this company working its holdings to invest more in the space?
MJ Holdings, Inc. (OTCPK:MJNE) is a diversified holding company, that cultivates and services the regulated cannabis industry. Its recent sale of its shares of Healthier Choices Management Corp stock netted the firm $6,400,000.00. MJ Holdings will use those funds to secure new licenses, reduce balance sheet debt and build out a significant portion of its infrastructure on its property as it seeks to become the largest cannabis cultivator in Nevada.
Shares are trading up over 1% in late-morning trade, but down from their all-time high reached earlier this year of $1.67.