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Why Medmen Enterprises Inc (OTCMKTS:MMNFF) Could be Set to Rip

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Medmen Enterprises Inc (OTCMKTS:MMNFF) has been beaten down soundly over the past 6 weeks. The stock continues to set up very well from the standpoint of a move in US legislation. We see it as something like an option bet on US legalization with some serious potential pop. The company has set up strong operations in a footprint almost entirely south of the border.

If you’re looking for the catalyst to get it juiced up again, the company reported fiscal Q1 (2019) data on Thursday, announcing systemwide sales revenue of $21.5 million up 1,094% from first quarter fiscal 2018 and 4.4% from fourth quarter 2018; an annualized sales per square foot of $6,188 across eight stores in Southern California with an 82% conversion rate; and, according to recently published figures by the California Bureau of Cannabis Control, MedMen stores accounted for approximately 5.3% of all legal retail cannabis and cannabis product sales in the state.

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.

 

Monster Growth

We started off by noting that MMNFF just hit the wires with the announcement of the company’s quarterly numbers on Thursday. The big key here is the massive y/y top-line growth (over 1000% growth). If you pair this with the massive potential upside of a positive turn in federal legislation around cannabis in the US, you have an all-star play here.

This data, while obviously helpful, figures into a tape that has been defined by some heavy action, with shares of MMNFF dealing with some pressure, but coming back on the news to close the last five days more or less flat. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -23%.

“Our first quarter performance underlines the successful execution of our growth strategy and ongoing commitment to provide mainstream cannabis consumers a wide breadth of products for their lifestyle and wellness needs,” said Adam Bierman, MedMen chief executive and co-founder. “Our four-pillars strategy – built around a quality team, superior assets, strong balance sheet and the ability to efficiently and effectively raise and deploy capital – has set us up to successfully achieve our vision. We are now entering a new phase focused on fully operationalizing our vast footprint.”

Medmen Enterprises Inc (OTCMKTS:MMNFF) as 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!

   

Learn More About PLSI at your brokerage today!

         

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade




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Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play