ABOUT THE COMPANY
Medium Is the retailer in cannabis that operates in new york, Chicago, Los vegas and Los angels. It owns a high-quality brand such as lux lite and medmen red,medmens owns nationwide loyalty, the company believes the loyalty of the cannibals makes it legal healthier and happy.
The company holds 33 stores and 6 cultivation which has been made through 9 states. Medmen was founded in the year 2010 by CEO Adam Bierman and Andrew Modlin who is the president of the company
HAPPENINGS IN 2020
- The medium CEO announced of stepping down after the loss of the company, the company CEO and founder adam Bierman announced the news in February after the company has made a huge stock drop in the year 2019 to almost 90%. The company has made revenue growth by up to 11% in 2020.
- The company entered an agreement to possess licensed cultivation and manufacturing in hill cart and forwarding of $17 million, the company obtained an initial payment of $10 million and the second payment was made by $7 million of the transaction corresponding to hill cart
- The annual meeting of the medmen was made in February 2020in which the shareholders made an approval and board directors and the auditors were reelected
- In the month of January, the company revised the alterations made by closing the documents of $78 million managed by a stable road and its groups.
- The company has made a loss of MMNFF of -11.33% and MMEN of -8.33% the company made a decision and renowned its loss by selling out the largest asset in California. The stock ha be stopped at the near end of the trading. the company again made a fiscal loss of shareholders to $40.6 million, and also another loss of $74.8 million which is widening to $64 million
- The revenue raised up to 11% that is $44.1 million. The profit was made after selling out cultivation and manufacturing in Illinois for $17 million and a reduction of 11%.
- The medmen made a stock profit of 1.3% on a regular basis the s&p index fell to 0.4, it is also believed that medmen bankrupt happened, the stock has been made to 39.2%