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MedMen Enterprises Inc (OTCMKTS:MMNFF) Stock in Focus As Tilray Announces Big News

Pete Matthews , , , ,

In 2021, many cannabis companies have made a bit of a comeback in the stock markets and one of those is Tilray Inc. The company, which is regarded as one of the major players in the cannabis space, was in the news yesterday after it made a key joint announcement with the cannabis retail company MedMen Enterprises Inc (OTCMKTS:MMNFF). 

It was announced that Tilray completed the acquisition of the senior convertible notes that belonged to MedMen from some funds that are connected to Green Gotham Partners LLC and other related funds. It is a significant development for Tilray since the acquisition of these senior convertible notes gives it a pathway by way of which it can pick up a reasonably large stake in MedMen.

However, it should be noted that it can pick up a stake in MedMen only after it gets the necessary regulatory clearance. In addition to that, it is necessary to keep in mind that MedMen is one of the biggest cannabis retail companies in the United States and the possibility of owning a stake in such a company could well prove to be a good move for Tilray. Investors  could consider keeping the Tilray stock in their watch lists at this point.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.