Topic: How To Invest

Q: Pat: What is your opinion on MedMen Enterprise, a U.S. cannabis retailer? Thank you.

Article Excerpt

A: MedMen Enterprises Inc., $2.89, symbol MMEN on the Canadian Securities Exchange (Shares outstanding: 129.4 million; Market cap: $374.0 million, www.medmen.com), is a U.S. cannabis retailer with operations in California, Arizona, Nevada, New York, and Florida. The Canadian Securities Exchange (CSE), formerly the Canadian National Stock Exchange (CNSX), is one of our country’s alternative stock exchanges. You can trade CSE-listed stocks through your broker. You can also get stock quotes at www.thecse.com. MedMen has its own line of cannabis products, sold under the brand names [statemade], LuxLyte, and MedMen. Its products take several forms: vape pens, drops, flower and pre-rolls. The company also classifies its cannabis by seven mood altering effects—from “max” to “zzz.” In October 2018, MedMen agreed to acquire PharmaCann, a cannabis company licensed in eight states, for $682.0 million. Following that purchase, the company is licensed for 84 retail stores (35 currently operating), 17 cultivation facilities, and 15 production facilities across 12 states. Approximately 68% of total revenue is now generated…

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