Medmen Enterprises Inc (OTCMKTS:MMNFF) just announced that it has partnered with Los Angeles wellness studios Sweat Yoga, LIT Method, Cycle House, Box Union Robertson and Oraya Movement as part of an enhancement of 2020 community programming.
According to the release, “The goal of the partnership is to discover synergies between the benefits of wellness and cannabis. MedMen collaborated with Papa and Barkley and Kikoko to provide each studio with samples of their leading cannabis products, as well as including incentives to visit MedMen.”
Medmen Enterprises Inc (OTCMKTS:MMNFF) frames itself as a company that, together with its subsidiaries, operates in the cannabis space in the United States.
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.
According to company materials, “MedMen Enterprises 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.”
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As noted above, MMNFF just announced that it has partnered with Los Angeles wellness studios Sweat Yoga, LIT Method, Cycle House, Box Union Robertson and Oraya Movement as part of an enhancement of 2020 community programming.
We’ve witnessed 22% piled on for shareholders of the name during the trailing week. Furthermore, the listing has benefitted from a jump in recent trading volume to the tune of 54% above the average volume levels in play in this stock over the longer term.
According to the release, “New Year, New You” is part of MedMen’s strategy to enhance community engagement in 2020. “New Year, New You” complements MedMen Buds, the Company’s new loyalty program, and recently launched same-day delivery platform available at all California and Nevada locations. All three programs are aligned with MedMen’s industry-leading omni-channel experience and customer service.
Now commanding a market cap of $167M, MMNFF has roughly $23.7M in cash on the books, which stands against about $84.4M in total current liabilities. One should also note that debt has been growing over recent quarters. MMNFF is pulling in trailing 12-month revenues of $130M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 15%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $MMNFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $MMNFF, either long or short, and we have not been compensated for this article.