|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.1115 - 2.2275|
|52 Week Range||1.8800 - 7.5720|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.21|
Curaleaf's $875 million deal to buy Grassroots shakes up the multistate dispensary leaderboard.
Medmen Enterprises Inc's (OTC: MMNFF ) former SVP of technology has joined Acreage Holdings Inc. (OTC: ACRGF ) as Chief Information Officer. A technology executive with over 18 years of experience, Alfred ...
Luxury cannabis lifestyle brand The Tree Trunk Corporation announced Tuesday the start of its new accessories collection created in partnership with a renowned cannabis retailer MedMen Enterprises Inc. (OTC: MMNFF). This newly created collection includes rolling trays and special storage solutions. "It was my vision when Tree Trunk was first being developed to have MedMen as a retail partner," said Tree Trunk founder and CEO Philip Andrews.
Cannabis cultivator Flower One Holdings (OTC: FLOOF) on Monday said it has appointed Kellen O’Keefe as its new Chief Strategy Officer. Prior to joining Flower One, O’Keefe was the Senior Vice President of Business Development of MedMen Enterprises (OTC: MMNFF), one of the biggest cannabis retailers in the United States. In that manner, O’Keefe will be representing Flower One on a few large U.S. cannabis events this summer, such as Trailblazers Summit Series in Utah, and Canaccord Growth Conference in Boston.
(“MedMen” or the “Company”) (MMEN.CN) (MMNFF), announced today that MedMen pre-roll singles and multipacks are available for purchase at its recently-opened West Palm Beach location. To bring these products to the West Palm Beach community, the Company’s state-of-the-art cultivation and production facility located in the city of Eustis completed its first harvest of smokable flower in the state of Florida. “Medical cannabis patients in Florida have fought long and hard to have smokable flower as an alternative for pain relief, and we are proud to offer them access to it,” said Adam Bierman, MedMen Co-Founder and CEO.
GrowGeneration Corp. shares rallied Wednesday to mark a rare splash of green in a falling cannabis sector that is still under pressure from the revelations of illegal activity at CannTrust Holdings Inc.
MedMen (MMNFF) is one of those plays in the cannabis sector that attracts a lot of overall positive attention, yet there are a number of things to consider over its viability as a long-term growth story, as a growing number of analysts and pundits suggest.Many think MedMen is the most recognized brand in the U.S., giving the impression it has the strongest potential to succeed in the U.S. and Canadian markets going forward.I think it's far too premature to draw that conclusion, as there are a large number of retail competitors in the U.S. that have the potential to grow meaningful revenue and market share in the years ahead.Earnings and potentialIn its latest earnings period MedMen generated $36.6 million in revenue, slightly beating by 0.1 million, up 155.1 percent year-over-year. GAAP earnings per share in the third quarter finished at -$0.20, missing by $0.09.For the quarter the company had a huge net operating loss of $53.3 million, and for the nine-month period ended with the quarter, losses accumulated to $178.4 million.Even though it has grown revenue nicely, the cost and losses associated with that growth has resulted in the company losing over 15 percent of its value. Since mid-June it has started to rebound some, closing at $2.73 as I write. Significantly down from its 52-week high of $7.57.Based primarily on its perceived leading brand recognition in the U.S., the company projects annual sales to jump to $1 billion over the next several years. That would make it the largest pot retailer in the U.S. as measured by revenue.The downside to that is if it struggles to find ways to dramatically cut costs as it scales.Some of Wall Street believe opening new retail stores in major markets like Arizona, Florida and Nevada will result in the company achieving profitability within a couple of years. That's overly optimistic from my point of view.It's going to have to scale enormously in order to make up for the growing costs of opening and operating new stores. A two-year period doesn't leave a lot of room for cutting those costs based upon scaling revenue alone. It'll help, but if it continues to expand at a rapid pace, I don't see the company cutting costs and being efficient enough to become profitable in that time period.The only thing I see that could change that over the next couple of years would be if it successfully sells more of its own brands, which command a gross margin of 80 percent, against the 55 percent average gross margin it gets from selling third-party cannabis.That other thing to consider is many of its competitors may aggressively pursue growth, but at a more cost-efficient pace, where they become more desirable holdings than MedMen. That would mean less interest from the market and the loss of momentum in its share price.Current and future operationsAccording to its investor presentation in May, the company had 35 stores that were operational, and was licensed for 86 retail stores across twelve states, including pending acquisitions. By the end of 2019 it expects to have 50 stores open for business.In the largest cannabis market in the world - California, it generated $24.9 million in revenue during the last quarter, accounting for 7 percent market share in the state. Another positive is it boosted its gross margin in California from 51 percent to 57 percent.Adding market share in California along with its increasing gross margins, combined with selling more of its own products, should over time, bring about the profitability the company is seeking, if it doesn't burn through its cash.As for the announced partnership with Cronos Group in Canada, I'm not as convinced this is going to add much to the company's performance, if the deal is consummated. Something is better than nothing I guess, but that market has some big players with a lot of deals in place with retailers. I don't think it will be able to rely on its branding strength in Canada as it has been able to in the U.S.ConclusionBased upon its aggressive "land grab" for an increasing number of retail outlets, MedMen is likely to eventually catch a decent bid. That said, I don't think it's a company that is going to form a higher bottom anytime soon.Consequently, I think it's going to be a good stock to trade, but not one I would hold onto for a long period of time.For those that really believe in the growth narrative surrounding MedMen, it would be best to add to positions on the dips, as it's going to be difficult for those that buy near the ceiling and then experience the inevitable big pullbacks that will continually be part of owning MedMen.I don't have any problem believing MedMen can grow revenue via acquisitions, but I don think it's going to struggle to obtain the profitability it guides for in the time frame asserted by management. That will eventually put a lot of downward pressure on the stock when that is realized.The positive is the company has laid out a clear and visible path to growth and profitability. The question is whether it can deliver on those promises in the relatively short period of time it has guided for. If not, investors will have to be patient if they took a position at a high price point. This is why trading rather than buying and holding at this time is the best play at this time.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click hereRead more on MedMen: * This Massive US Retail Cannabis Giant Might Be on Sale Today * Analyst Still Sees Compelling Value in Pot Stock MedMen (MMNFF) More recent articles from Smarter Analyst: * Curaleaf Helping to Put U.S. Cannabis Sector on the Map * Netflix’s (NFLX) Original Content Strategy Is Failing; The Stock Is Overvalued * Marijuana Stock KushCo (KSHB): Potential Catalysts Vs. Risks * Evercore Continues to Hold a Bullish View on Bank of America (BAC) Stock
Cannabis retailer MedMen Enterprises (OTCQX: MMNFF)(CSE:MMEN) announced Wednesday it gained an additional equity commitment from Gotham Green Partners in the amount of $30 million. The additional equity commitment was created with Wicklow Capital’s assistance, making Gotham Green Partners’ total commitment to the company reach $280 million, out of which the investor has already provided $100 million. According to the release, this additional investment will mainly be used to broaden its exposure in Florida, to operationalize the balance of the company’s retail license, improve the company’s balance sheet, broadening the company’s retail footprint, and to concentrate on important strategic markets.
U.S.-based cannabis company MedMen Enterprises Inc. said Wednesday it received an additional $30 million equity investment from Gotham Green Partners, with participation from Wicklow Capital. That brings the total financing commitment led by Gotham to $280 million. Gotham has so far funded $100 million of the total commitment. "Both Gotham Green and Wicklow have shown continued confidence in our strategy and recognize the potential ahead," said MedMen Chief Executive Adam Bierman. MedMen's U.S.-listed shares have dropped 10.1% year to date, while the ETFMG Alternative Harvest ETF has rallied 25.3% and the S&P 500 has gained 18.9%.
MedMen Enterprises Inc. (MMEN.CN) (MMNFF) (“MedMen” or the “Company”) is pleased to announce that it has signed a binding term sheet in respect of certain amendments to the definitive agreements for the up to US$250,000,000 senior secured convertible credit facility (the “Facility”) led by Gotham Green Partners, an investor in the global cannabis industry. Concurrent to the amendments, Gotham Green Partners, with participation from Wicklow Capital, has agreed to an additional US$30,000,000 equity commitment, bringing the total financing commitment to US$280,000,000. To date, Gotham Green Partners has funded US$100,000,000 of the total commitment.
MedMen Enterprises Inc. (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) today announced a partnership with Epilepsy Florida, the principal agency overseeing epilepsy programs and services sponsored by the State of Florida. The organization serves over 400,000 Floridians who suffer from the condition and is the premier source of information for epilepsy and seizures in the state. In celebration of MedMen’s entry into the Florida market, the Company will donate 10% of proceeds from its West Palm Beach location during the month of July 2019 to benefit the organization.
Prior low-level convictions for marijuana possession will be pardoned. Amid this news, one would expect marijuana stocks to run higher, but that’s not happening. Just like a doctor does X-rays to see what is going on inside the human body, investors can do an X-ray of marijuana stocks to figure out what is really going on.
(“MedMen” or the “Company”) (MMEN.CN) (MMNFF) applauds Illinois Governor J.B. Pritzker’s enactment of adult use cannabis legalization. Governor Pritzker’s bold action sets a new standard for legalization efforts at the state level.
MedMen Enterprises Inc. (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) announced today plans to open a retail cannabis store in the Northern California city of Vallejo. This will be MedMen’s fourth planned retail store in Northern California, joining locations in Emeryville, San Jose and Seaside. It will also be the Company’s 15th retail store in the state of California.
MedMen Enterprises Inc. (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) today announced its expansion into Florida with the opening of a retail location in West Palm Beach at 539 Clematis Street. MedMen expects retail locations in Key West and Orlando to follow. Florida is the third most populous state with a robust medical cannabis program serving over 200,000 qualified patients. Of the 15 new locations MedMen plans to open across the U.S. in 2019, 12 will be in Florida, where the Company is licensed for up to 35 retail locations.
(“MedMen” or the “Company”) (MMEN.CN) (MMNFF) (FSE:A2JM6N) is pleased to partner with Equality California, the largest statewide LGBTQ civil rights organization. During the month of June at all California stores, MedMen will donate 15% of proceeds from limited-edition Pride products to advance LGBTQ equality.
MedMen Enterprises Inc (OTC: MMNFF ), a cannabis retailer with operations across the United States, announced Thursday evening an agreement to buy MattnJeremy Inc, LLC, also known as One Love Beach Club ...
MedMen Enterprises Inc. (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) (FSE:A2JM6N) today announced that the City of Pasadena has awarded the Company one of six commercial retail and delivery licenses (subject to obtaining properly zoned real estate and a Conditional Use Permit), further enhancing its industry-leading footprint. “As we continue to grow our footprint in the U.S., California remains our home base and the most strategic market in our industry today,” said Adam Bierman, MedMen co-founder and chief executive officer. “The City ran a very competitive process and we are honored to be among those chosen to operate in Pasadena.
(“MedMen” or the “Company”) (MMEN.CN) (MMNFF) announced that it has signed a definitive agreement to acquire a 100% stake in MattnJeremy, Inc. LLC d/b/a One Love Beach Club (“One Love”). The acquisition further enhances MedMen’s industry-leading California footprint, adding a premier location strategically located between its Santa Ana and LAX locations. “We’re excited to welcome Long Beach to the MedMen family and continue our growth in the most important cannabis market in the world,” said Adam Bierman, MedMen CEO.
A lawsuit filed against MedMen Enterprises Inc. (OTC: MMNFF ) that argued CEO Adam Bierman and President Andrew Modlin made decisions in their own personal interest rather than that of shareholders has ...
By Brendan Bures New Yorkers love to joke about its little brother New Jersey, ribbing any and all of that state’s shortcomings, but the pair are two peas on a pod when it comes to marijuana reform. Just ...