MMNFF - MedMen Enterprises Inc.

Other OTC - Other OTC Delayed Price. Currency in USD
0.3200
+0.0450 (+16.36%)
At close: 3:59PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close0.2750
Open0.2900
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.2760 - 0.3250
52 Week Range0.0940 - 2.7800
Volume5,757,642
Avg. Volume2,585,738
Market Cap83.714M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.6800
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.59
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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Adding to the warning flashers is the average price target, which at $20.60 suggests a 2% downside from the $20.38 current share price. Canopy brings plenty of advantages to the table, but the cannabis industry is still full of pitfalls. (See Canopy's stock analysis on TipRanks)MedMen Enterprises (MMNFF)The weakest of our cannabis plays today is MedMen. Based in California, the most populous state in the Union and the country’s largest single legalized-cannabis market, MedMen has been in business since 2010. The company operates 32 dispensaries across six states: California, Nevada, Arizona, Illinois, New York, and Florida. MedMen produces much of its own product, in growing facilities that total well over 90,000 square feet.Despite offering a wide range of cannabis products – edibles, vaporizers, concentrates, topicals, pre-rolled joints – for both the adult use and medical markets, MedMen has had difficulty gaining traction. For its Q1 2020, the company reported some good news – a 105% year-over-year revenue gain to $44 million, and gross margins of 52% – but the basic fact of a $22.2 million net loss overwhelmed that. Investors have limited patience for companies that bleed money, and MMNFF shares have been declining steadily throughout calendar year 2019.MedMen may be able to survive the growing pains of a new industry in the process of both formation and legalization, but can it do so while downsizing? Last month, the company released plans to improve market share and cut expenses – but what cannabis industry watchers noticed most was that the plan also includes extensive layoffs. Over 190 employees are being cut in the name of efficiency and capital allocation, but behind the management spin is the simple fact the company expanded too fast and now is bigger than it can afford to be. The picture does not inspire confidence.In his yesterday's research note on MedMen, Hundley personifies the Wall Street view of this stock. He gives it a Buy rating, noting that the company has a strong brand presence and that management is willing to make hard decision, but his comments show the underlying caution: “It is clear that the company will need to cut its cost base further, while also generating a healthy amount of asset sale proceeds, if it wants to remain as a going concern… we believe that institutional investors have now mostly lost faith in the long-standing leadership of this business.” It’s not exactly a ringing endorsement.Hundley’s $4 price target, implying a massive 925% upside, also is not a signal of earth-shaking potential here. Rather, it indicates that MedMen has fallen so far – the stock is down 86% this year – that at this point, there is really nowhere for it to go but up. (To watch Hundley’s track record, click here)Check out these 5 ‘Strong Buy’ stocks that top Wall Street analysts recommend

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