What’s going on with MMNFF?
MedMen Enterprises Inc. (MMNFF) stock rose after the cannabis company removed the ‘interim’ status of its CEO and Chairman of the Board, Tom Lynch, making his role permanent as of July 15. Shares of MMNFF were up 1.99% and trading at $0.25 per share on Friday afternoon.
What does this mean for MedMen Enterprises?
Investors were bullish on the cannabis retail business because converting Lynch into the permanent leadership role signals stability and continuity. Lynch has served as the interim CEO since March 2020.
“I am thrilled to be joining MedMen in a more permanent capacity,” Lynch said in a news release. “We have an incredible opportunity to capitalize on our recent successes, and continue on our path of rapid growth and profitability. It is our goal to solidify MedMen’s place as the premier cannabis retailer, and to continue the expansion of our retail footprint to ensure everyone has access to the highest quality and most effective cannabis products in the market today.”
MMNFF has a Long-Term Technical Rank of 15. Find out what this means to you and get the rest of the rankings on MMNFF!
MedMen Enterprises Inc is the preeminent cannabis company with multiple assets and operations in California, Nevada, and New York, which combined account for nearly half of North America’s addressable legal market. The company owns and operates licensed cannabis facilities in cultivation, manufacturing, and retail.