Medmen Enterprises Inc (OTCMKTS:MMNFF) has been one of the most interesting names to recently emerge as a leading play in the cannabis space because of its US-centric exposure profile. We believe that will likely help the stock weather the sell-the-news correction we are seeing in the pot stocks following the Canadian legalization announcement. As a case in point, the company just announced that it has qualified to trade on the OTCQX Best Market by OTC Markets Group under the ticker symbol MMNFF effective today.
According to the release, “The OTCQX market is reserved for established U.S. and global companies that meet high financial standards, provide timely news and disclosure to investors, and have a professional third-party sponsor introduction.” As we know, the move up on the OTC tier structure does grant advantages, including exposure and the potential for more institutional interest.
Medmen Enterprises Inc (OTCMKTS:MMNFF), together with its subsidiaries, operates in the cannabis space in the United States.
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
MMNFF, more broadly, is a leading cannabis company in the U.S. with assets and operations across the country. Based in Los Angeles, MedMen brings expertise and capital to the cannabis industry and is one of the nation’s largest financial supporters of progressive marijuana laws.
The company cultivates, produces, possesses, uses, and distributes/retails cannabis in the recreational and medicinal cannabis marketplace. As of June 6, 2018, it owned and operated 18 licensed cannabis facilities under the MedMen brand name in California, Nevada, and New York.
The company frames itself as “the preeminent cannabis company in the United States” with multiple assets and operations in California, Nevada, New York, and Florida. MedMen owns and operates licensed cannabis facilities in cultivation, manufacturing, and retail, and is one of the most well-recognized cannabis brands in the world today.
Headquartered in Los Angeles, MedMen employs more than 800 workers across the United States. It was founded in 2010 by Adam Bierman and Andrew Modlin, two visionary entrepreneurs who saw not just a tremendous business opportunity in the growing legalization of marijuana, but a chance to re-define our society’s relationship with cannabis. MedMen supports sensible, clear and just drug laws.
The Company is the single largest financial supporter of progressive marijuana laws at the local, state and federal levels, giving directly to pro-legalization groups, industry organizations and political candidates.
The company is headquartered in Culver City, California. MedMen Enterprises Inc. is a subsidiary of The Medmen Of Nevada 2 Llc.
Moreover, the company operates as a cannabis company in the United States. The company cultivates, produces, possesses, uses, and distributes/retails cannabis in the recreational and medicinal cannabis marketplace. It owns and operates 19 licensed facilities in California, Florida, Nevada, and New York. The company is headquartered in Culver City, California.
Free at Last
As we discussed earlier, MMNFF just disclosed to the market that it has qualified to trade on the OTCQX Best Market by OTC Markets Group under the ticker symbol MMNFF effective today.
That announcement has been met with selling. In all, shares of the stock are now down a total of about -26% over the past five days of trading. However, shares of the stock have powered higher over the past month, rallying roughly 24% in that time on strong overall action.
“MedMen’s step up to the OTCQX will expand our U.S. investor base and provide strong capital markets support to drive our continued growth,” said Adam Bierman, MedMen chief executive and co-founder. “The OTCQX market offers enhanced visibility and transparency, more efficient trading and increased liquidity for our investors. This is also reflective of the enormous progress we have made as an industry. U.S. cannabis companies are here to stay and we are creating jobs and wealth for generations to come.”
Medmen Enterprises Inc (OTCMKTS:MMNFF) has about $12.2M in cash on the books against to a mountain of over $86M in total current liabilities. The company has been pulling in significant revenues, with over $7M in Q1 of this year, representing over 630% quarterly y/y growth on the top line.
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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