Tag: Andrew Modlin
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MedMen (MMEN.C): The Kings of Cannabis are dead but the stink remains
“In a sector rife with terrible CEOs that have wasted company treasury and goodwill…none come close to Bierman in terms of self enrichment, entitlement, and outward facing douchery,” wrote Chris Parry on January 31, 2020.
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Do not adjust your TV sets – Heritage Cannabis (CANN.C) is a real business
New licenses, deals, products – that’s all good – but it’s not the nitty gritty stuff investors are looking for now. By “nitty-gritty” we mean – numbers. Four weeks ago, Heritage released its Q1, 2020 financials.
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![MedMen (MMEN.C): cannabis catastrophe – 5 red flags everyone should have seen]()
MedMen (MMEN.C): cannabis catastrophe – 5 red flags everyone should have seen
MedMen (MMEN.C) owns 33 cannabis retail stores across 9 states. The stores have attractive exteriors, but the business inside is ugly. “MedMen reported another quarter of heavy losses [In Q1, 2020] as the California-based cannabis company scrambles to right-size and avoid bankruptcy,” reported an excellent Grizzle article, “with $11 million of quarterly interest expense against…
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![Los Angeles politician claims cannabis system is grossly unfair]()
Los Angeles politician claims cannabis system is grossly unfair
Los Angles City Councilman Herb Wesson roared into the news this week when he told the City of Los Angeles their cannabis licensing system was rigged against communities it was supposed to help. He has a point. Los Angeles has already approved 300 cannabis retailers and suppliers. The avalanche of first-round applicants buried city hall…
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![MedMen’s (MMEN.C) pre-lim Q4, 2019 good news for the peepz suing them]()
MedMen’s (MMEN.C) pre-lim Q4, 2019 good news for the peepz suing them
If you’ve every tried suing someone who is insolvent, you know how frustrating that can be. U.S. cannabis retailer MedMen (MMEN.C) just announced its “unaudited systemwide revenue figures for Q4, 2019, which ended on June 29, 2019. Although there is an ominous black hole where news of the MMEN’s profitability might be, the August 13,…
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![MedMen (MMEN.C) execs get real fricken nasty (again)]()
MedMen (MMEN.C) execs get real fricken nasty (again)
If you owned a 5% share in a 300-foot yacht, and the captain refused to let you sell your interest – then ran the ship aground – you’d have an idea how early MedMen (MMEN.C) investors, Brent Cox and Omar Mangalji feel. Collectively, Cox and Mangalji own about 19 million shares of MedMen – a…
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![MedMen (MMEN.C) Q3, 2019 revenues and a devastating Rolling Stone article]()
MedMen (MMEN.C) Q3, 2019 revenues and a devastating Rolling Stone article
It’s true: we do enjoy kicking MedMen (MMEN.C) around. Why do we dislike this grotesquely unprofitable company so intensely? Because Adam Bierman (CEO) and Andrew Modlin (President) are greedy. Not – “I-fly-1st-class-and-pay-my-workers-minimum-wage” greedy. Not – “I-cheat-on-my-taxes” greedy. Not – “I’m-unloading-cheap-paper-through-a-numbered-company” greedy. Crazy, almost psychopathically greedy. We dislike them for the same reason we dislike Namaste’s…
