Medmen Enterprises Inc (OTC: MMNFF) stock continues to gain momentum on Tuesday, extending its week-long rally. At the time of writing, MMNFF stock is up by 15.50% at $0.36, extending its weekly gains to about 40%.
Yesterday, the company announced the cancellation of warrants to acquire 97,785,140 Class B Subordinate Voting Shares of the Company following two consecutive quarters of positive retail cash flow for the periods ended September 26, 2020, and December 26, 2020.
As a penny stock, MedMen stock was in focus in early February when the stock went up 650% in a matter of 10 sessions r after Democrats won back the U.S. Senate by the narrowest of margins.
However, since then the stock had fallen back to its pre-rally level earlier this month. Nevertheless, MedMen stock is still up 150% so far this year.
Keep an eye on MedMen stock as the momentum seems to have picked up well recently.