MedMen Enterprises has recently received more funds to finance its expansion plans across the U.S., increasing up to 35.7% this month.
As the stock markets keep going higher with sky-high valuations, small investors may be left with no choice. Fortunately, there’s a hidden gem – penny stocks! In Q1 2021, cannabis stocks rallied until mid-February, then starting declining. If you’d like to buy the dip, we may have found the right penny stock for your portfolio.
Let’s find out why MedMen Enterprises may be the best way to enter the quickly expanding US cannabis industry. First, let’s start with where you can buy MedMen stock online.
How & Where to Buy MedMen Stock Online
MedMen stock is a penny stock that trades over-the-counter (OTC) or you can invest in one of the shareholding companies, such as Tilray Inc, via an online broker. These are the best online brokers right now:
eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.
Financial company driven by technology and offering all-in-one self-directed investment platform that provides excellent user experience.
What Is MedMen Enterprises?
MedMen Enterprises is a cannabis retailer with a wide presence in California, Illinois, Nevada, and Florida. The company sells high-end products, including its own brands, MedMen Red and LuxLyte.
Should I Buy MedMen Enterprises Today?
MedMen Enterprises has an expansive strategy that drives revenues, reaching $31.7 million in Q3 FY2021, an increase of 2.8% compared to the previous quarter. The company has also managed to decrease its net loss to $9.7 million in the same quarter, down from an impressive $68.9 million in Q2.
MedMen has been struggling since its inception. What now gives investors hope is some great news – the Canadian cannabis company, Tilray Inc, and a few other investors bought up to 26% of MedMen’s equity.
A second announcement followed, this time by Toronto-based Serruya Private Equity, which bought another $100 million worth of MedMen shares. This is what enabled the company to accelerate its growth plans and keep expanding across the US, improving its cash flow to sustain all of its activities.
MedMen Price Prediction 2021
As of this writing, MedMen trades for CAD 0.38 per share and it has a 1-year forecast price of CAD 0.561 per share or an increase of approximately 50%.