MedMen Stock Slides Amid Rapid Expansion
Pliny the Elder isn’t just a craft beer revered by hipsters, it’s also the name of a famous Greek naturalist and philosopher who first wrote about a fierce creature – the unicorn – that conveniently was impossible to capture. He’d be rolling over in his grave right now if he knew that there are now just over 400 unicorns roaming our planet eating every last venture capital dollar in sight. Pliny failed to realize that the name of the creature he imagined would be commandeered by institutional investors to refer to a startup with a valuation that exceeds one billion dollars. In February of last year, we wrote about the first marijuana unicorn – MedMen – stating that “Should shares of MedMen begin trading on the CSE, we’ll dig into their filings to give potential investors a clear look under the hood and compare their financials to their billion-dollar valuation.” That’s exactly what we’re going to do today.
About MedMen
The background of MedMen (MMEN:CN) is pretty straightforward. Their plan is to open “the Apple stores of cannabis” in visible locations like New York, Las Vegas, and Los Angeles. In our last article, we cited
