MMNFF - MedMen Enterprises Inc.

Other OTC - Other OTC Delayed Price. Currency in USD
2.2900
+0.0400 (+1.78%)
At close: 3:59PM EDT
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Previous Close2.2500
Open2.2500
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range2.2376 - 2.3495
52 Week Range1.8800 - 7.5720
Volume690,302
Avg. Volume1,100,488
Market Cap365.697M
Beta (3Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.8250
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est6.19
Trade prices are not sourced from all markets
  • Benzinga18 hours ago

    Flower One Holdings Appoints Kellen O'Keefe As Chief Strategy Officer

    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.

  • Business Wire5 days ago

    MedMen Announces Smokable Flower Now Available in West Palm Beach

    (“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 shares shine in falling cannabis sector as CannTrust scandal continues to weigh
    MarketWatch5 days ago

    GrowGeneration shares shine in falling cannabis sector as CannTrust scandal continues to weigh

    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’s (MMNFF) Net Operating Losses Piling Up as it Attempts to Scale
    SmarterAnalyst6 days ago

    Medmen’s (MMNFF) Net Operating Losses Piling Up as it Attempts to Scale

    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: * Can You Still Trust CannTrust (CTST) Stock? This Analyst Is No Longer Certain That You Can * Tesla (TSLA): Range Anxiety Is All Perception, but Still a Major Hurdle * Cannabis Stock HEXO to Benefit from Sector Chaos * Three Big Reveals as Jefferies Meets With Canopy Growth’s (CGC) New CFO

  • Benzinga6 days ago

    MedMen Enterprises Gets $30M Support From Gotham Green Partners

    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.

  • MarketWatch6 days ago

    MedMen receives additional $30 million equity investment led by Gotham Green Partners

    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%.

  • Business Wire6 days ago

    MedMen Announces Increased Commitment From Gotham Green Partners

    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.

  • U.S. Marijuana Sales Should More Than Double to $22 Billion by 2022
    Motley Fool9 days ago

    U.S. Marijuana Sales Should More Than Double to $22 Billion by 2022

    One Wall Street analyst just upped his firm's outlook for domestic retail cannabis sales.

  • Business Wire13 days ago

    MedMen Launches Partnership with Epilepsy Florida

    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.

  • 3 Marijuana Stocks That Are Book-Value Bargains
    Motley Fool17 days ago

    3 Marijuana Stocks That Are Book-Value Bargains

    Two out of three of these pot stocks trade below their book value, but that may not make them worth buying.

  • Better Marijuana Stock: HEXO vs. MedMen
    Motley Fool17 days ago

    Better Marijuana Stock: HEXO vs. MedMen

    Which stock wins in a matchup between a top Canadian cannabis producer and a leading U.S. cannabis retailer?

  • Money flows in 17 popular marijuana stocks show fewer ‘short squeezes’
    MarketWatch20 days ago

    Money flows in 17 popular marijuana stocks show fewer ‘short squeezes’

    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.

  • Wall Street's 2 Favorite Cannabis Stocks May Surprise You
    Motley Fool20 days ago

    Wall Street's 2 Favorite Cannabis Stocks May Surprise You

    These two laggards are Wall Street's top picks in the rapidly emerging cannabis industry.

  • Business Wire21 days ago

    Illinois Governor Signs Landmark Cannabis Legalization; MedMen Well-Positioned to Serve Market

    (“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.

  • Business Wire26 days ago

    MedMen Continues Northern California Retail Expansion into City of Vallejo

    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.

  • Business Wirelast month

    MedMen Announces Florida Expansion, Opens First Location in West Palm Beach

    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.

  • Business Wirelast month

    MedMen Partners with Equality California for Pride Month

    (“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.

  • Benzingalast month

    MedMen Expands In California With $13M Acquisition Of Long Beach Retailer

    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 ...

  • Business Wirelast month

    MedMen Awarded Pasadena Commercial Retail License

    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.

  • Business Wirelast month

    MedMen Expands Market Share in California with Acquisition of Long Beach Retailer

    (“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.

  • Benzingalast month

    MedMen Says Lawsuit Filed By Early Investors Voluntarily Dismissed; Plaintiffs Now Seeking Arbitration

    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 ...

  • Benzingalast month

    Sorry, But New York Probably Won't Legalize Marijuana This Year

    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 ...

  • Business Wirelast month

    Litigious Investors Dismiss Faulty Court Action Against MedMen

    (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) announced today that Brent Cox, Omar Mangalji, and the Inception Companies, through their affiliate, MMMG-MC, voluntarily dismissed their frivolous lawsuit against MedMen and its related companies, as well as its co-founders Adam Bierman and Andrew Modlin yesterday, in what can only be described as a personal admission that their case was improper. The request for dismissal also follows the Los Angeles Superior Court’s order in January 2019 that stated such claims were not likely to succeed on the merits. After earning millions of dollars as early investors in MMMG LLC, Cox and Mangalji sought to take further advantage of their position as insiders by filing suit against MedMen, Bierman, and Modlin alleging wrongdoing in connection with a common business decision to lock-up certain shares of MedMen held by MMMG.

  • OTC Markets Group Launches OTCQX Cannabis Index
    PR Newswirelast month

    OTC Markets Group Launches OTCQX Cannabis Index

    NEW YORK , June 4, 2019 /PRNewswire/ --  OTC Markets Group Inc.  (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the launch of the OTCQX® Cannabis Index ...

  • Business Wirelast month

    MedMen to Present at the Piper Jaffray 39th Annual Consumer Marketplace Conference

    MedMen Enterprises Inc. (“MedMen” or the “Company”) (MMEN.CN) (MMNFF) today announced that Zeeshan Hyder, MedMen chief corporate development officer, will participate in a panel titled “Connecting with U.S. Consumers: Retail and Online Delivery Panel” at the Piper Jaffray 39th Annual Consumer Marketplace Conference on Thursday, June 6th at 11:00 AM Eastern at the Pierre Hotel in New York. The Piper Jaffray 39th Annual Consumer Marketplace Conference brings together key industry executives and investors to provide multiple perspectives, investigate critical trends and identify the leaders in the markets that are driving our economy. Investors interested in arranging a one-to-one meeting at the conference should contact their Piper Jaffray representative.