Medicinal marijuana company doubles revenue but struggles to break even

Sales in the legal marijuana business are blazing hot, brushing $6.7 billion in 2016 -- but projections are expected to climb even higher to as much as $20 billion in sales by 2021, according to cannabis research firm Arcview Market Research. 

Despite the uptick in overall sales, the industry is still struggling to find its footing as those in the public space continue to battle turning a profit.

Medical Marijuana Inc. (MJNA) , a $321 million market cap company that claims to be the first publicly traded medicinal cannabis firm, is no different. While doubling revenue over the last year, the company is still struggling to turn a profit. 

Marijuana has become big business.

Marijuana has become big business.

For the quarter ended March 31, San Diego-based Medical Marijuana saw revenue jump about 135% to $3.6 million from $1.5 million in the same quarter of the previous year. Despite total...

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