CRON - MedMen: PharmaCann Delays Due To DOJ Antitrust Investigation

Summary

MedMen (MMNFF) has perhaps the best brand name in cannabis, including a flashy Spike Jonze-directed advertisement. MedMen's brand name and marketing have led to strong revenue growth and some of the highest revenue per store in cannabis.

Despite top-line strength, MedMen's stock has under-performed competitors. This under-performance has been driven by a combination of lavish spending and poor publicity including being sued by their former CFO. MedMen's new CFO is changing that, undertaking a cost-cutting program to cut "corporate SG&A" by 30% over three quarters. Even after those cuts, MedMen will have