May was a hectic month for the cannabis industry, which saw five companies go public on major stock exchanges. This week saw MedMen, the largest cannabis company in the United States, start trading in Canada.
“MedMen began trading on the Canadian Securities Exchange, but it didn’t get off to a very good start. The stock fell over 20 percent in the first couple of days of trading and the company faced criticism for it compensation structure for its top executives and lack of voting rights for new shareholders,” Green Market Report CEO Debra Borchardt told Benzinga.
“Also, mainstream investment houses were jumping into the industry as BMO Capital initiated coverage on Aphria and Canopy Growth with outperform ratings on both stocks. Then Stifel issued a white paper on the cannabis industry that didn’t really break any new ground, but served as their entry into the space,” she added.