Planet 13 Holdings Inc (OTCMKTS:PLNHF) Could be a Fresh Leader

Planet 13 Holdings Inc (OTCMKTS:PLNHF) Could be a Fresh Leader

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Another name that has been consistently outperforming the broader cannabis patch is Planet 13 Holdings Inc (OTCMKTS:PLNHF). This was further justified when the company recently announced financial results for the three-month period ended September 30, 2019, including revenues of $16.7 million, compared to $4.9 million a year earlier, representing an increase of 241%.

Larry Scheffler, Co-CEO of Planet 13 commented, “The SuperStore celebrated its one-year anniversary at the start of this month and 12 months on, even with this location generating $59.5 million in revenue2 and accounting for 9% of the State’s cannabis sales3, we are just at the beginning of the growth potential for this site and for Planet 13. With Phase II and wholesale operations just getting underway, we expect to continue generating profitable growth as we expand the sales of our well-regarded in-house, in-store produced brands both on-site and in 3rd party dispensaries state-wide commencing in the New Year.”

Planet 13 Holdings Inc (OTCMKTS:PLNHF) promulgates itself as a cannabis company that cultivates, produces, and distributes medical and recreational cannabis in Nevada, the United States.

It also operates dispensaries that provide recreational cannabis, cannabis extracts, and infused products. In addition, the company sells its products online. It operates under the Medizin and Planet 13 brand names. The company is headquartered in Las Vegas, Nevada.

As a vertically-integrated and established cannabis company in the Nevada market, Planet 13 Holdings, Inc. provides an array of cannabis products available through its licensed operations. Planet 13 Holdings, Inc. is focused on providing a dispensary experience and managing cultivation efficiencies through its technology. Planet 13 may be able to build on its position in the Nevada cannabis market as it seeks to expand its existing operations. In the Fall of 2018, the company was working to open a retail dispensary immediately adjacent to the Las Vegas strip.

According to company materials, “Planet 13 (www.planet13holdings.com) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas – the entertainment capital of the world. Planet 13’s mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13’s shares trade on the Canadian Stock Exchange (CSE) under the symbol PLTH and OTCQB under the symbol PLNHF.”

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As noted above, PLNHF just announced financial results for the three-month period ended September 30, 2019.

Recent action has seen 5% during the past month in terms of shareholder gains in the name. Moreover, the name has benefitted from a jump in recent trading volume to the tune of 35% beyond what we have been seeing over the larger time frame.

Bob Groesbeck, Co-CEO added, “In Q3, the highly profitable four-wall economics at the SuperStore drove our third consecutive quarter of positive EBITDA and positive operating cash flow. In addition to having recently opened Phase II in Las Vegas, we have been moving forward with our license acquisition in Santa Ana. Backed by a tier-one location close to tourist traffic and Planet 13’s world-class customer service, this location is poised to continue to build Planet 13’s reputation for creating world-class cannabis entertainment destinations while generating additional value for shareholders.”

At this time, carrying a capital value in the market of $121M, PLNHF has a significant war chest ($26.1M) of cash on the books, which is balanced by about $15.3M in total current liabilities. One should also note that debt has been growing over recent quarters. PLNHF is pulling in trailing 12-month revenues of $57.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 286.8%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $PLNHF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $PLNHF, either long or short, and we have not been compensated for this article.

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