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Friday, February 23, 2024

This Calif. pot company was once valued at $1.6 billion. Now it’s worthless.

California’s first cannabis unicorn — the pot retailer MedMen, which was once valued at $1.6 billion—is now essentially worthless. Shares of MedMen’s stock, which is listed on the Canadian Securities Exchange, finished last week at exactly zero dollars in value, ending a precipitous fall for one of …

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