Marijuana News Today: Pot Empire Expands in the U.S.

Marijuana News Today: Pot Empire Expands in the U.S.

Marijuana News Today

The marijuana news today has us looking to Florida as one of the largest pot companies in the U.S. expands. Meanwhile, the pot stock market saw moderate gains across the board this morning.

MedMen Enterprises Inc (OTCMKTS:MMNFF, CNSX:MMEN) is a Los Angeles-based marijuana producer and distributor with 35 medical and recreational cannabis stores in the United States. It’s now going to expand that number with a 7,500-square-foot medical marijuana dispensary in West Palm Beach, Florida.

This is MedMen’s first Florida store, but it won’t be the last; of the 15 dispensaries it plans to open in 2019, 12 will be in Florida.

“Florida, it’s a very large market,” said Nick Hansen, MedMen’s director of governmental affairs for the southeast U.S. region. “It’s a high focus for us.” (Source: “MedMen expands its cannabis retail empire to Florida,” CNN, June 14, 2019.)


The Florida market is also tightly contested. The state only has 14 licensed operators and each can only open 35 dispensaries across the state. That cap is going to expire in 2020, but it still limits where distributors can ply their wares.

That puts MedMen Enterprises Inc in an envious position; it will be one of the few marijuana companies able to take a bite out of the Florida market.

Florida, it should be noted, is a high-population state—fourth in the nation, at 19 million people. That’s a lot of potential customers.

The state is looking to open up its marijuana market, allowing smokable medical marijuana to be sold and increasing the number of operators in the state to eight.

Better yet for current operators like MedMen, the state is often considered one of best bets to legalize recreational pot in the near future. If that day comes, MedMen said it is ready to integrate recreational pot sales into its medical dispensaries, much like it did in California.

This highlights an interesting development in the marijuana industry: the growth of U.S. pot stocks. While the legal cannabis industry has largely been dominated by Canadian-based businesses, as the industry opens up in the U.S. via legalization, we’re going to see more companies begin to take advantage of the market.

What that means is we’ll likely see another explosion of young, high-growth companies emerge in the U.S. as they vie for control of the biggest market on Earth. The already established Canadian businesses will no doubt also try to muscle their way into the American market.

It will be an interesting time for the marijuana stock market, with younger and smaller marijuana businesses native to the U.S. competing with larger and more powerful Canadian ones.

In any case, we’re likely to see big growth for both the smaller companies that will sprout up and the old guard from Canada when marijuana is eventually legalized in the U.S. at the federal level.


One of the things I’ve been focusing on lately is the expanding presence of U.S. pot stocks. Seeing as how the above marijuana news today featured MedMen Enterprises Inc, let’s take a deeper dive into what MMNFF stock offers to investors.

MedMen is valuable on the face of things. The company has a strong presence in several U.S. markets, including California.

Considering that MedMen operates in California, a market larger than the entirety of Canada, you’d think that it would be able to at least come close to rivaling Canadian marijuana stocks. But that’s simply not the case.

Concern over U.S. marijuana laws and their mutable nature—after all, for a long time, there was a fear that an anti-drug crusader at the federal level could effectively stomp out the nascent marijuana trade in America—has kept MedMen from coming close to its Canadian counterparts.

Furthermore, MMNFF stock simply does not have the momentum backing it; it’s down over 40% on the past year. Which isn’t to say it’s totally doomed. The stock climbed three percent in early-morning trading today, despite being down 10% over the past five days.

The takeaway on MedMen stock is to watch and wait. For now, it’s way too volatile to be reliable as a growth marijuana stock.

On the flip side, MedMen Enterprises Inc’s position as a power player in the U.S. market could pay off with big dividends in the years to come as pot legalization are expanded in the U.S.

CGC Stock

Speaking of powerful Canadian marijuana stocks, Canopy Growth Corp (NYSE:CGC) is one of the better performers of the day, with gains of about one point in early-morning trading today.

But CGC stock, like many pot stocks, has suffered as of late; it’s down nearly five percent over the past five days.

But that isn’t unique to Canopy Growth; most pot stocks have had an up-and-down time in June.

While May was largely a loser for marijuana stocks, June has seen dips and peaks, representing one of the more unpredictable months of 2019 so far.

Canopy Growth stock, however, remains strong and I believe it will emerge from this volatile period with a long, steady period of gains.

TLRY Stock

One of the strongest marijuana stocks in the marijuana news today so far, however, is not Canopy Growth, but Tilray Inc (NASDAQ:TLRY).

This volatile marijuana stock climbed in early-morning trading, with TLRY stock gaining more than five percent. But much like its peers, it’s down about five percent over the past five days.

Tilray stock is in an interesting position. I have long said that it would break below $40.00 per share, and that ended up being true. It appears, however, that the market may have finally found its bottom for the company, as it has held strong around the $40.00 mark.

One of Tilray Inc’s biggest problems is finding its true stock value after its absurd gains after its initial public offering. We may have finally seen the stock land on solid ground.

And with that, TLRY stock may be able to finally start turning its fortunes around. While I probably wouldn’t rush back in quite yet, I would keep an eye on Tilray stock.

MMNFF, CGC, and TLRY Stock Performances

The performances of MMNFF stock (black line), CGC stock (blue line), and TLRY stock (red line) over the past week can be seen on the following chart:

Chart courtesy of

Analyst Take

The marijuana news today has us looking at the U.S. and the hotbed of potential that it is. The legal marijuana market is very young on a global scale, and in the U.S., I’d argue that it’s barely a newborn.

With expanding legalization and growing companies, more U.S. pot companiess are popping up, eager to get in on the growing market. But until the legal side of things stabilizes in the U.S., the stronger marijuana stocks will be in Canada.