This post first appeared on Micro Cap Daily
Medmen Enterprises, Inc. (OTCQX: MMNFF) stock price has been acting in quite an interesting fashion in the past several months, ever since its decline in November 2018. The price has been fluctuating between a support level at $3 and a resistance at $4 for quite some time in 2018. Then, in early August, the price started growing until it was stopped by another resistance, at $5.
After a mild correction, the price suddenly surged to great heights, exceeding $7 in the process. However, the massive surge brought just as big of a decline as the year came close to its end. MMNFF price then finally started approaching stability through a long process of ups and downs throughout the first half of 2019. It fluctuated between $2.7 and $3.8 for months, with the current price being near the bottom, at $2.77. With the previous pattern in mind, it is very likely that the company’s stock price is about to grow yet again in the following days.
What does Medmen Enterprises do?
Medmen Enterprises is a US-based cannabis company that operates throughout the country. It quickly spread through all marijuana-friendly states ever since it was founded in 2010, by Adam Bierman and Andrew Modlin. It currently has a strong presence in states like Florida, California, Nevada, and New York.
The company’s numerous facilities deal in cultivation, manufacturing, as well as retail. Its business strategy has been proven quite strong and well thought-out, which led the company to become one of the most recognized cannabis brands in the entire world.
Medmen is headquartered in Los Angeles, California, but it employs over 800 people throughout the country. Back in the day, when it was first founded — its two founders believed that the time of marijuana legalization is about to arrive and that the industry will be extremely profitable within years. As we know today, they were right, and the success and progress that the industry has seen were likely influenced in no small amount by the company itself.
The firm was always in favor of supporting clear, progressive marijuana laws on a federal, state, and even local levels. Its support included donations to pro-legalization groups that have been fighting for the legalization of the industry for decades, and these days — the effort is finally paying off.
To Find out the inside Scoop on Medmen Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
Medmen Enterprises’ performance and growth
As mentioned, Medmen’s stock price has been performing pretty well throughout the past year, with the sudden surge coming after the company announced the listing on Frankfurt Stock Exchange. The company was also dedicated to making investments, such as the one in Canopy Growth, which helped others, as mentioned earlier.
Its business decisions were quite well thought-out, and they continued expansions through additional states as well. The company expanded to Illinois, Arizona, and several other states, while also securing its presence in places where it already had several dispensaries.
The company’s stock price dropped in November, not due to a bad business decision or legal issues, but simply as a consequence of the initial surge, caused by the hype. The price started seeking stability in December 2018, as well as throughout early 2019. Meanwhile, the company continued business as usual, making moves such as acquisitions in numerous states. The company now operates numerous dispensaries and retail facilities, with April 25th of this year bringing its second store in San Diego, which is also its 11th location in California.
We have a Monster Pick Coming. Subscribe Right Now!
The company’s stock price does not show the true size and success of the company at this time, which is good for would-be investors. Buying the firm’s stock right now would be a great move for anyone looking to make a profit once the price finally catches up. Meanwhile, investors might consider the current lows as a discount — one that should be exploited while it lasts. 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.
Sign Up now for our 100% FREE Penny Stock Newsletter
Disclosure: we hold no position in Medmen either long or short and we have not been compensated for this article.
Copyright in text and images in this article belong to the original source.
This post first appeared on Micro Cap Daily