$3 billion – MedMen valuation in 2018 Once upon a time, MedMen Enterprises was a unicorn in the cannabis industry. In October 2018, it was riding high with a $3 billion market cap and grand expansion plans. Now, the company has an “estimated realizable value” of $1, according to documents …
Florida cannabis entry still faces high costs as DeSantis resists legalization
Florida Gov. Ron DeSantis once was credited with boosting the medical cannabis program by championing the addition of flower products, but now he appears to be taking a more nuanced approach to expanding the program. Last week, the governor vetoed a bill that would have banned intoxicating hemp products sold …
The Daily Hit: June 24, 2024
The Daily Hit is a recap of the top financial news stories for Monday, June 24, 2024. On the Site MedMen creditors likely out millions, trustee and receiver documents say The receiver for the company has been slowly winding down, giving away, or selling assets in California while fielding interest …
Tentative court ruling dismisses lawsuit alleging illicit market dealings by Glass House
A lawsuit filed last summer alleging that Glass House Brands (CBOE CA: GLAS.A.U) (OTCQX: GLASF) is “one of the largest” illegal marijuana businesses in California is poised to be dismissed this week, according to a tentative ruling released on Friday. The Los Angeles Superior Court judge hearing the case found …