|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.7925 - 2.8812|
|52 Week Range||2.5310 - 7.5720|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.07|
LOS ANGELES , April 23, 2019 /CNW/ - MedMen Enterprises Inc. (MMEN.CN) (MMNFF) (FSE:A2JM6N) ("MedMen" or the "Company"), is pleased to announce that, further to its press release dated March 22, 2019 , it has entered into definitive agreements in respect of a US$250,000,000 secured convertible credit facility (the "Facility") with Gotham Green Partners, an investor in the global cannabis industry. "We are excited to close our investment into MedMen. The company has firmly established itself as the leading cannabis retailer in the United States with an unparalleled physical and brand footprint across the country," said Jason Adler , managing member of Gotham Green Partners.
U.S. cannabis dispensary operator MedMen Enterprises Inc (OTC: MMNFF) said Friday that it accepted the resignations of Ben Cook, its chief operating officer, and Lisa Sergi, its general counsel and a board member. The appointment of Lissack as CTO took place during the fiscal third quarter ended March 30, MedMen said. Prior to announcing the resignations and the appointment, MedMen Enterprises posted preliminary fiscal third-quarter results that include total preliminary revenue of $54.9 million, up by 11 percent on the year.
Hemp companies are raising capital this year at more than 10 times the pace seen last year, according to the latest data from Marijuana Business Daily and Viridian Capital Advisors.
Cannabis retailer MedMen Enterprises Inc. said Friday it has accepted the resignations of two senior officials. The company said Chief Operating Officer Ben Cook and General Counsel Lisa Sergi who is also a board member, have both resigned from the company. It said it named Ryan Lissak as chief technology officer during its fiscal quarter ended March 30. "The leaders of the operations group will now report directly to the CEO," the company said in a statement. "The leaders of the legal team include Dan Edwards, who will continue in his role of Senior Vice President of Legal Affairs, and report directly to the CEO." MedMen is currently the subject of a lawsuit from its former finance head James Parker, alleging that he was exposed to racial, homophobic and misogynistic epithets and slurs, drug and alcohol abuse and personal humiliation, while at the company.The company has denied all wrongdoing. In March, it was expelled from the New York Medical Cannabis Association over the allegations. Shares have gained 7% in the year to date, while the S&P 500 has gained 16%.
MedMen Enterprises Inc. (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) (FSE:A2JM6N) is pleased to announce that during its fiscal quarter ended March 30, 2019 the Company named Ryan Lissack Chief Technology Officer. In addition, the Company has accepted the resignations of Ben Cook, Chief Operating Officer, and Lisa Sergi, General Counsel and a member of the MedMen Board of Directors. “We appreciate the contributions of all current and former MedMen team members as we work to build the world’s leading cannabis company, and I have the utmost confidence in the management team.
Cannabis producers and sellers are scrambling to secure product and cultivation space as the substance goes mainstream in Canada and parts of the U.S. The common thinking is that demand for high-quality products will exceed supply for some time as more regions legalize medically and recreationally. Production potential is key, and one emerging company, Item 9 Labs, plans to quadruple their production by the end of this year, and they're planning to enter new markets through licensing and permitting in the next 12 months as well. NEW YORK, NY / ACCESSWIRE / April 18, 2019 / It may feel slow-going, but U.S. states are slowly coming around on medical marijuana use.
MedMen Enterprises Inc. plans to release its financial results for the third quarter fiscal 2019 which ended on March 30th, 2019 after market close on May 29th, 2019.
MedMen Announces Preliminary Q3 Revenues(Continued from Prior Part)Valuation multipleSince the beginning of 2019, MedMen Enterprises (MMEN) (MMNFF) has fallen by 3.6% as of April 12. The decline in MedMen’s stock price has also lowered its
MedMen Announces Preliminary Q3 RevenuesThird-quarter performance Today, MedMen Enterprises (MMEN) (MMNFF) posted an unaudited revenue of $36.60 million for the third quarter of fiscal 2019, which ended on March 30, 2019. Year-over-year, the
Is There More Upside to Planet 13 Holdings Stock?(Continued from Prior Part)Analysts’ recommendations Of the three analysts that follow Planet 13 Holdings (PLNHF) (PLTH), one analyst is favoring a “strong buy,” while the remaining two analysts
MedMen Enterprises Inc. announced today unaudited systemwide revenue for its fiscal 2019 third quarter ended March 30, 2019.
Benzinga is all geared up to host its third rendition of the Cannabis Capital Conference , full of big-time investors, top industry executives and reporters from around the world. If you haven’t already ...
("MedMen" or the "Company") (MMEN.CN) (MMNFF) (FSE:A2JM6N) is pleased to announce that it has entered into an equity distribution agreement (the "Equity Distribution Agreement") with Canaccord Genuity Corp. pursuant to which the Company may, from time to time, sell Class B subordinate voting shares (the "Subordinate Voting Shares") in the capital of the Company for aggregate gross proceeds of up to CDN$60,000,000 . The At-the-Market equity financing program (the "ATM program") is designed to enable the Company to issue Subordinate Voting Shares from treasury at lower cost than traditional offerings, without discount and at prevailing trading prices.
Cannabis stocks were mixed on Wednesday, with Green Thumb Industries Inc. a standout after posting a big jump in revenue in its latest quarter, while packaging company KushCo fell sharply after saying 2018 losses may double after it uncovered accounting errors.
Is There More Upside to Curaleaf Holdings’ Stock Price?(Continued from Prior Part)Analysts’ recommendationsAmong the six analysts that follow Curaleaf Holdings (CURA) (CURLF), three recommended a “strong buy,” while three recommended a
Is There More Upside to Curaleaf Holdings’ Stock Price?Stock performance Curaleaf Holdings (CURA) (CURLF) has started 2019 on a stronger note. As of April 9, the company’s stock price has increased 83.0% since the beginning of the year. In
Planet 13 and Wayland Group Posted Strong Performance Last Week(Continued from Prior Part)Stock performance Cannabis stocks were mixed last week. Of the seven companies considered for our analysis in this article, three have given positive returns,
Cannabis stocks continued to trade in a holding pattern on Thursday, with investors awaiting the outcome of bipartisan legislation proposed in the House and Senate that would create protections for states that have legalized the substance for medical or recreational use.
Opposition to cannabis has come from an unexpected place in recent days -- blue-state America. Thus far, the states which have legalized pot all lean left, or at least center-left. Hence, it may have come as a surprise when legalization efforts faced roadblocks in two key blue states: New Jersey and New York.In New Jersey, the governor wants to grant legal status to cannabis. However, lawmakers canceled the vote since it does not appear to have enough support in the State Senate.New York faces obstacles in the state capitol and several localities. Governor Andrew Cuomo has indicated that he will miss the deadline to include it in April's state budget. Moreover, many counties, some which encompass metro New York City, have expressed interest in opting out of legalization.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Dangerous Dividend Stocks to Avoid This primarily affects stocks with weed-based operations in the state. Thankfully for Canopy Growth (NYSE:CGC) investors, its recent move into New York state involves the production of recently legalized hemp. However, these three smaller, U.S.-based marijuana stocks could face pain as these key states delay legalization: Innovative Industrial Properties (IIPR)Innovative Industrial Properties (NYSE:IIPR) stands out among other marijuana stocks by acting as a real estate investment trust (REIT). It earns revenue by owning greenhouses in industrial space and renting them out to growers.Also, due to its REIT status, it offers a dividend, something that most other marijuana stocks typically do not offer. Moreover, the company hiked the quarterly dividend to 45 cents per share last month, a yield of around 2.25%.However, with legalization efforts in New York tied off, IIPR stock could face setbacks. The company owns 13 properties total, two of them located in New York state. This comprises just over 15% of its total property. Interestingly, the San Diego-based firm owns more property in New York than in its home state of California.The company likely bought these properties in anticipation of legalization. Still, with both hemp and medical marijuana legal, it could pivot into those industries. Also, at a forward price-to-earnings ratio of 28.6, it trades at a lower multiple than other marijuana stocks.However, investors could still punish it in the near term for its relatively large stake in New York. Until New York's state government provides more clarity, investors should probably avoid IIPR. Acreage Holdings (ACRGF)The public may know Acreage Holdings (OTCMKTS:ACRGF) best for its group of backers. Its Board members include prominent politicians such as former Massachusetts Governor Bill Weld and former Canadian Prime Minister Brian Mulroney. Former House Speaker John Boehner, who was once an opponent of marijuana, also sits on the board.It may need this political firepower as it contends with its presence in both New Jersey and New York. New Jersey is home to its 135,000 sq. ft. cultivation facility. It also partnered with a licensed alternative treatment facility in the state, presumably on the assumption that New Jersey would legalize. In New York, it runs four dispensaries and a 70,000 sq. foot cultivation facility.Trading at 195 times sales, the market prices it for perfection. Before this news came out, analysts had expected Acreage to turn a profit next year. They also predicted that revenues would rise by 115%. Now, with the status of weed in question in both states, investors may become wary.Also, it has only traded on the OTC markets since November. After briefly plummeting to $12 per share in December, it has settled at about $22 per share, not far above its IPO price. * 10 Best Stocks for 2019: The Race Is On Acreage may benefit later from its substantial political influence. However, with its sizable presence in these states and its failure to move higher in its brief history, investors should stay away from ACRGF stock for now. Medmen (MMNFF)MedMen (OTCMKTS:MMNFF) describes itself as the "standard bearer" of the legal cannabis industry in the U.S. It owns facilities for cultivation, manufacturing and retail in five key states. Unfortunately, one of those states is New York, where it runs three dispensaries.MedMen also intends to buy PharmaCann, a private company that was awarded licenses to operate four dispensaries and a 128,000 sq. foot production facility in New York.MMNFF stands as an OTC stock trading at about $3 per share. However, it boasts a market cap of just under $1.5 billion and a price-to-sales ratio of 16.9. This multiple appears quite reasonable compared to other marijuana stocks. Analysts also forecast triple-digit revenue growth and possibly, a positive net income next year.However, a political setback in New York could delay that move to profitability. It also lessens the appeal of the PharmaCann merger, which both companies first announced in October. Given these doubts, investors should probably not buy until they see a clearer path in New York state. Concluding ThoughtsDelay or denial of legalization will profoundly affect all of these stocks. However, once these issues become old news, the stock could also benefit from the delay.The experience with marijuana stocks in Canada may serve as a lesson in this instance. Following legalization, a "sell the news" effect took place, and most cannabis equities plunged over the next two months. I have previously speculated that marijuana stocks would eventually become so-called "sin" stocks similar to Altria (NYSE:MO) and Constellation Brands (NYSE:STZ). Such equities tend to become dividend payers with low P/E ratios, drawing a much different type of investor.These legal setbacks could actually postpone such a fate, adding to the appeal of marijuana stocks, even the ones with a presence in New York and New Jersey. Hence, investors should not only seek to understand the short-term effects but also learn to look beyond them.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Stocks That Would Be Hurt By a Mexico/U.S. Border Closure * 7 A-Rated Healthcare Stocks for Industry Expansion * 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever Compare Brokers The post 3 Marijuana Stocks to Watch as New York, New Jersey Delay Legalization appeared first on InvestorPlace.