You've gotta love it when a plan comes together: 1933 Industries (TGIF.C), which has been banging the same 'we're grownups, we're doing it right, hang tight' drum for several years now, dropped news this February 14 that will make any Valentine's heart swell with joy. "Following the completion of a combined 20,000-square-foot expanded cultivation, extraction, manufacturing and distribution facility in the Los Angeles area, the company began harvesting its first cannabis crop this week to be utilized for both its proprietary brand Alternative Medicine Association (AMA), as well as for its licensing partner luxury brand Blonde cannabis, with products earmarked for dispensaries for the first time outside of Nevada."
1933 Industries (TGIF.C) has kept their January 7th promise to get the first harvest of their California operation in full swing, while getting their Canna Hemp products to dispensaries across the state.
From the day it landed on the stock market, MedMen (MMEN.C) was a company that drew derision and ire based almost entirely on the decision of its founders to lather themselves in hefty bonuses, hoard most of the voting shares, offer themselves enriching golden parachutes, and put themselves above the shareholders and the long term success of the business.
When a cannabis company loses a lot of money every quarter, and has to sell real estate, cancel acquisitions, lay off staff, renegotiate existing financing to higher interest rates and offer stock to new financiers at a discount to the market price, all to stay afloat, one might expect their newsflow to show bold new moves, innovation, maybe some hard austerity decisions.
So the braintrusts over at MedMen (MMEN.C) have devised a new and novel way to staunch their company’s steady and consistent bleeding: they’re going to lay enough people off that they reduce their overhead to a sustainable rate.
Plus Products (PLUS.C) is a proponent of the hyper-specialization approach in a sector which, at least once upon a time, prided itself on vertical integration across a wide swathe of products.
“Fiscal 2019 was a transformative year for Medmen, with over two million completed retail transactions to date and revenues increasing 227% year-over-year,” said Adam Bierman, Medmen co-founder and chief executive officer in a news release that should see the company gutted on the markets Tuesday.
A while back – quite a while back, if we’re honest, Tinley Beverage (TNY.C) boss Jeff Maser had a big decision to make that would take his company in a specific direction from that point forward.
“California is North America’s largest beverage market. Plus it’s the continent’s largest cannabis market,” says Jeff Maser, founder and CEO of The Tinley Beverage Company (TNY.C).
A subsidiary of Dionymed Brands (DYME.C) claimed a small victory in its courtroom kerfuffle with Eaze Technologies, called the “Uber of weed” in court documents, defeating the tech company’s move to have the suit dismissed.
Blonde, a new high-end cannabis brand by 1933 Industries (TGIF.C), is making its debut in Nevada after successful implementation in California.
Dionymed Brands (DYME.C) up nearly 50% on news of recieving licenses in underserved state of California
Dionymed Brands (DYME.C) had a killer Tuesday, seeing a 47.6% bump in share price on news they received three provisional licenses in…California.