This post first appeared on Micro Cap Daily

Medmen Enterprises Inc. (OTCQX: MMNFF) stock price saw a major surge back in 2018. The price growth started in early August, and it continued until mid-September, leading the price from $3 to $5. After that, it experienced a minor decline to $4, only to surge once again, higher than ever before, and reach $7 as a result.

However, following this growth, the price quickly experienced another decline to $4 and another surge to $6. What followed was the last big decline, which took the price back to $3, which started acting as a strong support. Then, 2019 came, and MMNFF price entered a pattern that took it up and down multiple times, but always between $3 and $4. The pattern continued until early April when the company’s price broke its support at $3. The decline continued until this day, with the price currently sitting between $2 and $3.

While not exactly the positive development, the breaking of the pattern might still be a good thing. After all, the price demonstrated its ability to reach massive heights and leaving the pattern that held it back might mean that another growth is about to arrive and take it to its former heights.

About Medmen Enterprises Inc.

Medmen Enterprises is a preeminent, US-based cannabis company that owns assets and operations throughout the country. The company is well-established, and it operates in numerous states, such as Florida, Nevada, New York, California, and others. It also owns and operates licensed cannabis facilities, where it cultivates, manufactures, and sells its products.

In fact, it became one of the world’s most recognized brands. Currently, the company employs over 800 workers. It is based in Los Angeles, where it was originally founded back in 2010. Another thing that it is well-known for is its contribution in establishing the cannabis industry, as well as in bringing clear, just laws on the state, local, and even federal levels.

Medmen has always supported industry organizations, political candidates, and other pro-legalization groups, both morally and financially.

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Medmen Enterprises’ recent progress

As mentioned, the company’s stock price performed rather well in the second half of 2018, at least until it started dropping in mid-October and early November. The first drop came unexpectedly, soon after the company got listed on OTCQX. However, the company’s expansion to Arizona brought another surge, after which a new decline followed.

However, the firm continued its’ business and expansion regardless, and it even opened a store in Orange County, California. A store in Arizona followed soon after that, and the firm also acquired a dispensary in San Francisco.

Its’s tock got into trouble after a shareholder lawsuit, but the company’s business managed to grow even after that, with a new acquisition in Arizona, Illinois, San Diego, and more.

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The current behavior of the stock indicates that the price is free to pursue its own course, and with the successful expansion in the past year, it is likely that growth is soon to arrive. Meanwhile, interested investors might be wise to use this opportunity and purchase the stock while its price is on a ‘discount,’ as it will bring greater profits once it returns to its former glory. We will be updating on Medmen when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Medmen.

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Disclosure: we hold no position in Medmen either long or short and we have not been compensated for this article.

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This post first appeared on Micro Cap Daily

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