MEDMEN’S PHARMACANN BID FALLS APART
More red than green lately
MedMen‘s $682M bid for Chicago-based PharmaCann fell apart this week amid industry turbulence and cratering stock prices. For California retailer MedMen, PharmaCann was supposed to be an entry point into the Illinois REC market, which opens on Jan 1.
Chicago Tribune
- MedMen’s stock is trading around $1.58 per share. Last October it reached $9.
- MedMen is walking away with one of PharmaCann’s two Illinois grows, a shop and a retail license.
In response to a tough parody on South Park, MedMen CEO Adam Bierman said he was “humbled to be considered the most culturally relevant cannabis brand.“
Javier Hasse, Forbes
Pot stocks, most of which, like MedMen, trade in Canada, had their worst day of the year on Thursday. ????WeedWeek Canada has more.
@weedstreet420 – Twitter
- New Cannabis Ventures weighs in on the tumult.
Quick Hit
- ????WeedWeek Canada also has a great round-up of REC legalization’s not so happy first birthday up north.
- Leafly suffered a data breach. It didn’t say how many users’ data was affected.
Security Affairs
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