TABLE OF CONTENTS
With all that has been going on (or not going on) at MedMen, we decided to create a comprehensive review of MedMen that's focused on their dispensaries, products, deals, and falling stock.
Here it is.
MedMen was started in 2010 by Adam Bierman and Andrew Modlin. The two saw a business opportunity after recreational cannabis was legalized in California. They took advantage and opened their first cannabis retail store in California in 2018- MedMen West Hollywood. Later on in the year they opened retail outlets in New York and Nevada. They opened their first medical marijuana dispensary in Florida in 2019.
To date MedMen has a presence in 6 states:
– New York
Later on in 2018 MedMen was set to acquire PharmaCann at a whopping cost of $682 million- this was going to be the largest U.S.-based cannabis company buyout. However this merger did not work out in the long run and MedMen has lived to tell the story.
Things have not been all-too-rosy for this cannabis magnate. Financial woes have been the mainstay of their existence especially in the last one and a half years. Last year the New York Medical Cannabis Industry Association removed MedMen from its roster. MedMen has also been faulted for broadcasting health claims about their products that are not evidence-based.
MedMen is a United States based company that went public on the Canadian Stock Exchange via a reverse takeover (RTO) on May 29, 2018. The stock is traded under the ticker CNSX: MMEN.
MedMen stock closed at $0.24 on 3rd June, which is a slight rise from the lowest point that was hit in early March after the controversial CEO Adam Bierman left the company that he helped to create.
The company performed dismally in Q2 and this was a continuation of the downward trajectory that has been going on for the most part of 2019. The financial health of MedMen has been wanting, in spite of the efforts that have been made to salvage this company such as cutting back on expenses. The Q2 results that were released in February showed a net loss of $ 40.6 million. At its peak the MedMen cannabis stock was trading at about $4.50 but has been on a free fall since then.
MedMen has opted to reduce its investment in cannabis production to focus on retail where its strength lies. They have gone ahead to sell production assets in Arizona and Illinois. However the coronavirus outbreak has done a number on the stock market and Medmen stock has been affected by the panic in the market.
Med Men is among the largest cannabis businesses in the US. This company is headquartered in California in Culver City in California. To date they have 29 physical dispensaries spread across the US, both medicinal and recreational. They have marijuana dispensaries in the following locations:
- Scottsdale – North (N. 78th Way)
- Scottsdale – Talking Stick (Manzanita)
- Tempe – PHX Airport (University Dr.)
- Long Beach – E. Broadway
- Los Angeles – Beverly Hills
- Los Angeles – DTLA (S. Broadway)
- Los Angeles – LAX Airport
- Los Angeles – Venice (Abbot Kinney)
- Los Angeles – Venice (Lincoln Blvd)
- Los Angeles – West Hollywood
- Monterey Bay – Seaside (Broadway Ave.)
- San Diego – Kearny Mesa (Convoy St.)
- San Diego – Sorrento Valley (Torrey Pines)
- San Jose – Central (N 10th St.)
- Santa Ana – Orange County
- Deerfield Beach – NE 2nd St – Coming Soon
- Fort Lauderdale – Coral Shores – Coming Soon
- Jacksonville – Downtown – Coming Soon
- Jacksonville – Southside – Coming Soon
- Jacksonville Beach – 3rd Street
- Key West – Duval St.
- Miami Beach – Coming Soon
- Orlando – International Drive
- Orlando – University Dr. – Coming Soon
- Pensacola – Bayou Blvd.
- Sarasota – Main St.
- Petersburg – 5th Ave N.
- Tallahassee – Thomasville Rd.
- West Palm Beach – Downtown (Clematis St.)
- Chicago – Oak Park (Lake St.)
- Evanston (Maple Ave)
- Boston – Fenway – Coming Soon
- Las Vegas – Downtown (Arts District)
- Las Vegas – Paradise (Paradise & Harmon)
- Las Vegas – S. Highland Dr. – Coming Soon
- Las Vegas – Spring Valley
- Buffalo – S Main St.
- Long Island – Lake Success (Marcus Ave.)
- NYC – Fifth Avenue (Bryant Park)
- Syracuse – Galeville (Buckley Rd.)
MedMen products are categorized into the following:
– CBD Rich
MedMen sells different brands of cannabis products. They have a flagship brand [statemade] which was launched in October 2018 during the opening of MedMen Paradise in Las Vegas.
The [statemade] product line includes flowers, vape pens, tincture drops, and pre-rolls. The products' names are telling of the effect they are intended to produce: zzz for sleep, joy for joy, zen, ebb, one and cbd. These products are manufactured in Nevada at MedMen’s state-of-the-art cultivation facility.
MedMen sells over 50 different brands including:
– Absolute Extracts
– Alien Labs
– Brother Davids
– Coda Signature
– Connected Cannabis
– Dr Kerklaan Therapeutics
– Dr Norms
– Elements Papers
– Ember Valley
– Flora + Bust
MedMen sells the following cannabis product categories:
– Pre rolls
– Pet products
The cannabis products are sold as low, medium, or high potency.
MedMen Deals and Discounts
It’s quite easy to get deals and discounts at any of the MedMen dispensary locations. Some of the deals that you may be able to get at MedMen dispensaries include:
– 10% off your first purchase when you sign up via email on the MedMen site
Unfortunately, all MedMen dispensaries have been temporarily closed. The management condemned looting that occurred during demonstrations related to the George Floyd murder at the hands of a Minneapolis police officer.
MedMen Careers & Reviews
MedMen periodically posts jobs on the MedMen Careers page on their website. Employees at MedMen receive the following benefits apart from a good pay package:
– Comprehensive health plans
– Vision Insurance
– Dental Insurance
– Pet Insurance
– Paid holidays
Current job openings at MedMen include:
Associate Employment Counsel -Los Angeles, CA
Senior Compliance Associate- Orlando, FL
Analytical Lab Technician- Utica, NY
Cultivation Supervisor -Utica, NY
Cultivation Technician I-Utica, NY
Cultivation Technician I – Eustis, FL
Production Supervisor -Eustis, FL
Production Technician I – Eustis, FL
Sanitation Technician I -Utica, NY
Sanitation Technician II -Eustis, FL
Co-Manager of Hospitality – Los Angeles, CA
Co-Manager of Hospitality – Oak Park, IL
Co-Manager of Hospitality – Oak Park, IL
Co-Manager of Operations – San Diego, CA
Co-Manager of Operations – San Diego, CA
Co-Manager of Operations – Venice, CA
Co-Manager of Visual – San Diego, CA
Co-Manager of Visual – Beverly Hills, CA
Delivery Lead – San Jose, CA
Hospitality Associate – Venice, CA
Hospitality Associate – Manhattan, NY
Hospitality Associate – Fort Lauderdale, FL
Hospitality Associate – Las Vegas, NV
Hospitality Associate – San Diego, CA
Hospitality Associate – Tempe, AZ
Hospitality Associate – San Jose, CA
Hospitality Associate / Delivery Driver – Beverly Hills, CA
Hospitality Associate / Delivery Driver – San Jose, CA
Hospitality Associate / Delivery Driver – Downtown Los Angeles, CA
Hospitality Associate / Delivery Driver – Venice, CA
Hospitality Associate / Delivery Driver – San Diego, CA
Hospitality Associate / Delivery Driver – Santa Ana, CA
Hospitality Associate / Delivery Driver – Long Beach, CA
Hospitality Associate / Delivery Driver – Los Angeles, CA
Hospitality Lead -San Jose, CA
Hospitality Lead – Las Vegas, NV
Hospitality Lead- Oak Park, IL
Hospitality Lead – Long Beach, CA
Operations Associate -Las Vegas, NV
Pharmacist – Buffalo, NY
Pharmacist – New York, NY
MedMen Glassdoor Reviews
Unfortunately the reviews for this company on Glassdoor are anything but encouraging. It appears that former employees have several complaints and do not think highly about this company as an employer. Generally the company has a rating of 2/5. Going through some of the reviews most of the former employees think that the management is poor and delusional. Otherwise the work environment is friendly and it’s a good thing that employees are allowed to toke on campus.
Does MedMen sell edibles?
Yes, MedMen sells a variety of edibles at their retail outlets. You can get this by browsing through their product catalogue which is available online. MedMen also sells cannabis flowers, vape prerolls, tinctures, and topicals.
Does MedMen Illinois sell recreational marijuana?
MedMen Illinois Dispensaries offers recreational marijuana to adult customers (21+) as from January 1st, 2020.
Why is MedMen stock dropping?
MedMen stock has been falling as from the beginning of 2019 to date, though it has experienced a slight increase in the last few weeks. A failed merger with Pharmacann could have contributed to this drop in stock value. Poor management in the top offices has also been a headache for investors.
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