GREY:MMNFQ - Post by User
Post by
Mike411Ontarioon Dec 21, 2018 6:51pm
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Post# 29149031
If New York Legalizes
If New York Legalizes If New York Legalizes Recreational Marijuana, Here's Who Could Cash In
https://finance.yahoo.com/m/488f50d4-028b-3284-8f59-0257fdb4772e/if-new-york-legalizes.html
According to its data, it looks like MedMen Enterprises Inc. (MMNFF) is poised to be the big winner as a result of its acquisition of PharmaCann, which had the highest number of permits awarded in the state. MedMen acquired PharmaCann for $682 million in an all-stock deal back in October. The transaction not only doubled the reach for MedMen, but expanded its presence in New York.
MedMen had acquired New York's struggling Bloomfield Industries at the beginning of 2018. The company had been unable to pay vendors and was looking for new investors. Bloomfield was one of the original five licensees in New York.
MedMen made a big splash when it opened its 5th Avenue dispensary. At the time plenty of cannabis industry insiders questioned the logic of paying such a high rent for the high visibility of a Manhattan address in a program with so few patients. They wondered how long it would take for a restrictive state such as New York to change its outlook on adult use cannabis. Apparently. the answer was not very long.