|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.8558 - 2.0200|
|52 Week Range||1.7180 - 7.5720|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.49|
After a weak couple of months, cannabis stocks rallied in the first week of September . That rally seems to have stalled so far in the second week of the month. S3 Partners analyst Ihor Dusaniwsy said ...
MedMen Enterprises Inc. (MMEN.CN) (MMNFF) (“MedMen” or the “Company”), a leading cannabis retailer with operations across the U.S., today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”), has expired with respect to the proposed acquisition of PharmaCann, LLC (“PharmaCann”) (the “Transaction”). The expiration of the waiting period under the HSR Act satisfies one condition needed to close the Transaction, which is expected to be completed by the end of calendar year 2019, subject to customary closing conditions.
MedMen Enterprises Inc. (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) is pleased to announce that it has closed its previously announced acquisition (the “Acquisition”) of MattnJeremy, Inc. d/b/a One Love Beach Club (“One Love”). This acquisition further enhances MedMen’s California footprint by adding a premier location strategically situated between the existing Santa Ana and LAX stores. Including pending acquisitions, MedMen is licensed for 17 stores across California, of which 13 are currently operational.
For many dispensaries, the music playlists offer a window into an operation’s overall philosophy and ethos. What’s the first thing you notice when you step inside a dispensary? Once upon a time, it was likely the aroma of cannabis beckoning you in like Pepé Le Pew.
Summertime is downtime for a lot of occupations - and politics is no exception. That's true of Capitol Hill, where Congress has adjourned for their August recess. And it's true of state governments, too, where "prime time" is usually spring (when the annual legislative session is typically held).But that's not to say there are no new developments. For example…right now, a movement is quietly gathering steam in one southeastern state, and it's not getting much attention in the usual media outlets. But it's building a surprising trend: Florida could be on the verge of legalizing marijuana.More often, when Florida makes the national news, it's one of those bizarre stories involving a Florida man or woman, a gator attack, or maybe some kind of altercation at a Publix grocery store.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut this month, the Florida headlines show some positive momentum for pro-legalization advocates. And none other than Rolling Stone magazine had a big feature on it this week. * 10 Marijuana Stocks to Ride High on the Farm Bill Now, like every state, Florida also has its anti-legalization advocates.Back in the 1930s, when one Florida man committed a gruesome murder and the Tampa police scapegoated "marihuana cigarettes" for it, the case was used to push marijuana prohibition nationwide.More recently, when voters were about to vote on a medical-marijuana ballot initiative in 2016, the Florida Sheriff's Association lobbied against it. The billionaire founder and CEO of Las Vegas Sands (NYSE:LVS), Sheldon Adelson, also blocked previous medical-marijuana initiatives. Governor Ron DeSantis has been hesitant to back legalization as well.But that may be starting to change. Florida has come a long way, thanks to advocates like Ricky Williams, former running back of the Miami Dolphins, who used marijuana to manage pain and still speaks at Florida cannabis conferences.Medical marijuana was approved by Florida voters in 2016 -- with 71% of the vote! -- and in March, DeSantis signed a bill allowing patients to purchase smokable marijuana for their medical needs. The younger guard, such as U.S. Rep. Matt Gaetz, tend to lean pro-legalization. And the state of Florida's only Democratic official, Agricultural Commissioner Nikki Fried, got there on a pro-legalization platform.Now, Floridians may be considering full legalization on the 2020 ballot. A group called Regulate Florida have a potential pro-legalization referendum ready for judicial review… all they need now is the signatures.Make It Legal Florida is the newest cannabis lobby group to hit the scene. On August 1, they registered as a political action committee (PAC) with Florida's election bureaucrats, and named Nick Hansen as their chair. Hansen's resume includes stints as a staffer in the Florida legislature, and new Southeast Director of Government Affairs for the California cannabis retailer MedMen (OTCMKTS:MMNFF).I'm no big fan of MedMen. Its fundamentals are bleak, with the company operating at a loss far greater than its cash and equivalents. Even worse, its former CFO alleged insider enrichment without proper disclosure.But I think MedMen is right to see opportunity in Florida -- the company is about to open 11 more stores there -- and it's definitely not alone in that. Already, with only partial legalization, Florida is on track to control 10% of the U.S. legal cannabis market by 2025. According to Leafly's 2019 Cannabis Jobs Report, Florida men and women are leading the pack -- with 9,068 cannabis jobs added in 2018, and another 9,050 expected this year!Most importantly… Florida is a major U.S. state, and would be a big "domino" to fall, paving the way to full, federal legalization. Marijuana Legalization: My "Domino Theory" of Cannabis InvestingDuring the Cold War struggle between communism and capitalism, the term "domino theory" entered the American consciousness. As the theory goes, if one small country was allowed to fall to the communists, it was sure to tap the next "domino"… which would tap the next one… and so on.While the Cold War is long over, the term "domino theory" lives on to this day. Any situation where seemingly small catalysts pave the way for larger events earns the label.In the legal marijuana business, every few months, another domino falls in the direction of widespread marijuana legalization -- and huge gains for us as investors. Thanks to the sea change in how people view marijuana, legalization all over the world is an unstoppable trend… and one of our "core" long-term themes at Investment Opportunities.In January, I was about to head to the Benzinga Cannabis Capital Conference when I first recommended MTech Acquisition to subscribers. After spending time with their top executives at the conference, I knew it was an even better opportunity than I originally thought.By June, MTech had merged with a tech company called MJ Freeway to become Akerna (NASDAQ:KERN) -- and at Investment Opportunities, the new shares earned us a 153% profit… then a 546% profit! Not bad for less than five months held.And today, I see a few OTHER big opportunities out there now. Why I Like Penny Pot Stocks Ahead of Full LegalizationPenny stocks often get a bad rap. But they are actually critical to the global marketplace. The world needs tiny companies -- just as much as bigger ones. They're the job creators. The innovators. And they're the places to look for the biggest gains once marijuana legalization occurs.As an investor, if you're looking for the next Netflix (NASDAQ:NFLX) or Apple (NASDAQ:AAPL), this is where you'll find it.You just want to be VERY choosy about which ones you buy.I use strict guidelines to pick penny stocks -- and I tell you all about them in this presentation.When I used my five-step evaluation process on the marijuana market, I identified four stocks that are worth buying now.During my presentation, you'll have the opportunity to secure a free copy of America's Top 4 Marijuana Moonshot Stocks… I'll even give you a fifth bonus name just for fun.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Marijuana Legalization: The Next "Domino" May Be About to Fall appeared first on InvestorPlace.
Earlier today, the Alcohol and Gaming Commission of Ontario announced that it would be holding a second lottery to issue licenses for retail cannabis.
MedMen (MMNFF) closed almost 6% higher on Monday. The company announced the launch of its new California-wide delivery service for cannabis.
The state’s hemp sector has come a long way since it began as a research and development program under the 2014 Farm Bill, Nevada Senate Bill 305 and Senate Bill 396. “Now in our fourth growing season, we have certified 207 registered growers, 53 handlers and 37 seed producers to date,” said Ashley Jeppson, Nevada Department of Agriculture (NDA) Plant Industry division administrator.
U.S. cannabis retailer MedMen Enterprises Inc (CSE: MMEN) (OTC: MMNFF) announced Monday the start of its delivery service across California, allowing consumers to experience the comfort of home delivery. The company will concentrate on California, where it has 17 retail locations, aiming for its delivery service to expand across the country. “MedMen has always been at the forefront of shaping and defining the cannabis industry, and we are proud to be taking the next step in our evolution by now offering delivery service in California,” said Adam Bierman, MedMen co-Founder and CEO.
(“MedMen” or the “Company”) (MMEN.CN) (MMNFF), announces the launch of statewide delivery service in California, bringing the Company’s industry-leading retail experience to the consumer at home. With over 400 products, MedMen’s new delivery service is the most robust of its kind.
With its stock down to a humbling $1.90 a share from a peak of $6.50, the publicly traded pot chain reassured investors that cannabis sales are on track. A preliminary tally of June-quarter revenue showed a 15% increase from the March period, to $42 million.
MedMen Enterprises Inc. (MMEN.CN) (MMNFF) (“MedMen” or the “Company”), a leading cannabis retailer with operations across the U.S., today announced unaudited systemwide revenue figures for the fiscal fourth quarter 2019, which ended on June 29, 2019. The Company also provided an update on several corporate initiatives, including efforts to optimize SG&A and raise capital, the status of the pending PharmaCann transaction and retail store expansion.
Some of the commentators and pundits that have been somewhat bullish on MedMen (MMNFF) are far too optimistic at this stage of the development of the business and the execution of its strategy, in my view.While the company does have an interesting strategy of targeting consumers with significant disposable income, there is no guarantee it will be able to ward off the growing number of vertically integrated dispensaries in the U.S. markets.There is also the fact the current clientele of MedMen, as cannabis becomes more acceptable and normal in the U.S., won't necessarily buy solely at MedMen dispensaries, or possibly gravitate to a competitor. MedMen works for now with its customer base because of a lack of alternatives to serve that market, but that is changing rapidly, and as people accept the usage of cannabis more, they won't be as resistant to buying from other dispensaries.At this time MedMen has been able at times to generate a lot of sales per square foot, but as more dispensaries are built, some of that advantage will dissipate.So far I haven't seen MedMen differentiate in a way that would defend it against the growing number of competitors it is facing, and will face in the future.Its strategyAlthough the strategy of MedMen, which is to compete in the top U.S. markets, isn't a bad one, it's no different than most dispensaries that have similar goals in place.MedMen has suggested in California, that the regulations in California are a moat for the company because of requirements that cannabis stores must, by law, be a specific distance away from places like churches, schools and other cannabis retail stores.That means the business that establishes a physical presence in a particular locality will have a distinct advantage over a competitor looking to compete in the same area.Although that's true in California, it will also work against MedMen for those companies getting to certain localities before MedMen does. To me it appears to be somewhat of a wash; it'll benefit from its existing locations, but it'll struggle for the same reasons against competitors that are established in other California markets as well.Other states the company has a presence in are Arizona, Florida, Illinois, Nevada, and New York.The two with the most near term potential are Illinois and Florida. In Illinois it'll get the 10 retail stores associated with the PharmaCann acquisition, and in Florida, where it plans to have 12 retail stores opened not too long from now.Florida is going to be a tough market because of the rapidly growing number of competitors in the state. It'll take a long time before it is clear who the winners are going to be there.In Illinois, the major market it will serve is Chicago, where PharmaCann is easily the market leader.The challenge for MedMen is it's really not doing anything much different than its competitors, and it remains to be seen if its focus on upscale consumers is a defensible position, as the stigma of cannabis use continues to retreat.Management and cash burn woesThe two biggest negative catalysts for MedMen has been the revolving door of executives and its cash burn rate, which has resulted in rising losses for the company. Uncertainty surrounding leadership and increasing losses must be addressed by the company if it wants its share price to find support once again.Operational costs have skyrocketed over the last year during the first two quarters, soaring from $16.6 million for the first half of fiscal 2018, to $150.7 million for the first fiscal half of 2019.Overall, in the first six months of fiscal 2019 has lost over $125 million. At that rate, even with the $250 million investment from Gotham Green Partners, the capital isn't going to last long, and that doesn't include some of the projects MadMen said it is going to use the capital for, including its expansion into Florida, more acquistitions, high-end product development, and the integration of PharmaCann and other acquired assets.It's readily apparent the company doesn't have even close to the capital needed to do what it wants to do. It'll struggle as it is just to use the $250 million to cover its cash burn, let alone spend on the above-mentioned projects. That means it will need to raise a lot more capital to achieve its ambitious goals.ConclusionMadMen has positioned itself as one of the leading vertically integrated dispensary companies in the U.S. market, but it has done so at enormous cost, which has yet to be seen if its aggressive growth strategy is sustainable.The dispensary space in the U.S. is a Wild West at this time, and it'll take a long time before we know who the winners will end up being. Even with its growing presence, MedMen remains a highly speculative and risky company.For those looking to take positions in companies in the cannabis sector, there are a number of companies far more compelling than MedMen at this time.With no competitive advantage and an unproven business model, it's a toss of the dice which way MedMen will go. It could end up being a great company, or quickly devolve into a cash-burning performer that consistently struggles to survive quarter to quarter.However it plays out over the long term, MedMen is going to have to raise a lot more capital in order to execute its plans. The means a lot more dilution and cash burn. It's probably going to get much worse before it gets better.See price targets and analyst ratings on TipRanks
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.