In recent times, some of the companies in the cannabis industry have come back into focus among investors and one of those is MedMen Enterprises Inc (OTCMKTS:MMNFF). While that may be true, the stock was actually trading within a range yesterday.
Considering the fact that the company made a key announcement today, it might be a good idea for investors to take a closer look at it. The company announced today that that California’s highly regarded cultivation company LitHouse Farms has reached an agreement with MedMen to manage its cultivation and manufacturing processes at two of its facilities.
The facilities in question are the Dutch, cultivation, production and greenhouse properties that have been leased by MedMen in Desert Hot Springs in California. It goes without saying that it is a significant development for MedMen.
It has also been announced that in addition to the expansion in California, LitHouse is also going to move into the Nevada market and help with production of flower for the private label brand named MedMen Red. The partnership with a pioneering cultivation firm could help MedMen is improving its production capabilities considerable and hence, investors could do well to add the stock to their watch lists.
