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Planet 13: Why 2021 May Be THE Year for This Cannabis Stock

Planet 13 las vegas Planet 13 Holdings stock Cannabis Watchlist

This week, I researched a cannabis stock several of you have asked about: Planet 13 Holdings Inc. (OTC: PLNHF).

Thanks to Vanya, Brent and Armando for asking us to take a look at this stock!

I’ll start with what Planet 13 does.

About Planet 13 Holdings

Planet 13 is a cannabis company that operates primarily in Nevada. In addition, it owns a pair of dispensaries in California.

Planet 13 owns just four total dispensaries, but its product is in about 33 stores in Nevada.

It operates what it calls “the world’s largest cannabis store” a few steps away from the Las Vegas Strip.

The company plans to open another “superstore” in Santa Ana, California.

The Planet 13 Cannabis Entertainment Complex won Leafly’s Nevada dispensary of the year in 2018, and it recently added non-cannabis products to its retail store:

Source: Accesswire.

It’s also expanding its sales floor, adding cash registers and new entertainment to the facility as Las Vegas’ tourism starts to rebound.

Planet 13 has several different brands under its umbrella:

Planet 13 Cannabis Stock

Financially, the company seems to be in the midst of a record-breaking quarter.

Take a look at some of the highlights:

Source: Accesswire.

The preliminary sales figures suggest — barring any more lockdowns — that Planet 13 could reach $100 million in revenue during the fourth quarter.

But I think 2021 could be the breakout for Planet 13.

Take a look at the cannabis stock’s recent share price action:

Planet 13 Stock Rose From May to August

Shares jumped 472% from a low in March to a high of $4.01.

After that growth, the share price pulled back about 32% to $2.71 by the end of September.

However, you can see in the chart that the stock has started another run-up and is close to that $4.01 high.

Strong preliminary third-quarter earnings are likely the spark for that uptrend.

I believe Planet 13 has all the ingredients in place to put itself in the green, but three things have to happen. Watch today’s Marijuana Market Update to find out what they are.

As always, my team and I love the feedback we’re getting on our YouTube channel and through email!

Feel free to send comments, questions and stocks you want us to examine to feedback@moneyandmarkets.com — or leave a comment on YouTube!

Where to Find Us

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Coming up this week, we’ll have more on The Bull & The Bear podcast and our Money & Markets Week Ahead, so stay tuned.

For instance, we just posted a new video to our playlist, The Bull & The Bear:

Until next time…

Safe trading,

 

 

 

 

Matt Clark

Research Analyst, Money & Markets

Matt Clark is the research analyst for Money & Markets. He’s the host of our podcast, The Bull & The Bear, as well as the Marijuana Market Update. Before joining the team, he spent 25 years as an investigative journalist and editor — covering everything from politics to business.