MedMen sees reversal of fallen stock price as sales pick up

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The company has turned itself around this year

Last October, MedMen Stock kept finding new and new lows in their stock price, but that seems to be changing for the better. During the last three sessions, the stock closed with positive numbers, which is certainly a good sign of improvement. The bottom low stock price was reported as $1 and now November 4, it jumped to $1.20. MedMen is now fighting back strong showing an increased interest from the investors.

MedMen operations began in 2010 and they have activity across the US. As a premium cannabis retailer, they run flagship stores in Los Angeles, Las Vegas and New York and, to provide an unrivaled encounter that can bring people to know the outstanding benefits of cannabis, they constantly work on an educational front to expand cannabis knowledge. They believe as a company that if cannabis was once and for all legal and well-regulated will allow the people to have better health, lots of happiness and feel a lot safer.

The fall for MedMen began on October 8, and by looking at their website and general communications, all those changes announced definitely impacted negatively the stock price. In the press release section, one of the biggest announcements was on this date in which MedMen informed all investors that they were stepping back from the purchase of PharmaCann. According to MedMen, they found new and better ways to achieve the same objective they had with the acquisition.

After that, on October 28, they made another important communication when reporting an increase in their revenue in comparison to last year’s. For the 2019 fiscal year, the financial results are showing a 227% growth on their revenue which is outstanding, their margin this year jumped from 35% to 47%. Even is reporting losses right now, the company is setting up for generating more and more revenue in the future.

We believe that the lows are indeed in for MedMen stock and higher prices are ahead. When it comes to investing, it is important to pinpoint when a stock is about to break out, and we are at that point now.