MedMen Enterprises Inc. (OTCMKTS:MMNFF) (CSE:MMEN) Stock Slips To a New Low

MedMen Enterprises Inc. (OTCMKTS:MMNFF) (CSE:MMEN) is down 22% in a week. The leading cannabis products retailer has appointed Tyson Rossi as its Chief Strategy Officer. Since 2019, Rossi has served in MedMen’s executive leadership team, and most recently, he was SVP Product and Revenue.

Market Stats

On Tuesday, MMNFF stock fell 7.52% to $0.1156 with 3.98 million shares, compared to its average volume of 2.87 million shares. The stock has moved within a range of $0.1110 – 0.1300 after opening trading at $0.1252.

MedMen Promotes Tyson Rossi to Chief Strategy Officer

With more than 25 years of expertise in international brand development and vertical marijuana business, which include more than a decade in the legal marijuana field, Rossi is a cannabis industry and retail veteran. He co-founded several cannabis companies, including Arizona-based firms, Flourish Cannabis andBdee Holdings, Inc., and Los Angeles-based Edible Solutions.

Interim CEO of the company Michael Serruya said that they are delighted to promote Rossi to the Chief Strategy Officer to help drive the company’s expansion and strategy initiatives and oversee product-related programs. Serruya added that over the period Rossi has worked at the company, his deep understanding and keen insight on product and cannabis sector have been helpful in the company’s success and growth. so in the coming weeks, investors should watch MMNF.

Key Quote

“We’re thrilled to promote Tyson Rossi to the role of Chief Strategy Officer, responsible for driving MedMen’s company strategy and expansion efforts while overseeing all product-related activities of our business. During his time at MedMen, Tyson’s keen retail insights and deep understanding of both product and the global cannabis landscape have been invaluable to the success of our business and the continued evolution of the MedMen brand,” said Michael Serruya, Interim CEO, MedMen. “I have the utmost confidence in Tyson’s ability to lead strategy as MedMen advances into a new phase of growth and progress, prioritizing profitability, a diverse roster of best-in-class brands, and the continued refinement of the industry’s premier retail experience.”

Traders Corner

MMNFF stock is trading below the 20-Day and 50-Day Moving averages of $0.16 and $0.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.25.