Shares of Planet 13 Holdings Inc (OTCMKTS:PLNHF) continue to demonstrate a degree of relative strength in the cannabis patch. It’s partner, Dosist, just announced the launch of its Wellness Experience shop-in-shop within the Planet 13 SuperStore dispensary in Nevada.
According to the release, The first cannabis wellness shop-in-shop at Planet 13, the dosist Wellness Experience occupies exclusive space within the SuperStore serving as a sales and education platform to introduce the brand’s dose-controlled cannabis therapy to the over 1 million visitors Planet 13 welcomes each 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 that its partner, Dosist, is going to join it in its Nevada shop with a shop-in-shop location.
Recent action has seen 5% added to share values of the stock over the past month of action. What’s more, the company has registered increased average transaction volume recently, with the past month seeing approaching 200% beyond what we have been seeing over the larger time frame.
“The dosist Wellness Experience has proven to be an incredible platform to inspire, educate, and engage a new audience about the benefits of dose-controlled cannabis therapy,” said Gunner Winston, CEO of dosist. “Extending this platform to Planet 13 is a remarkably powerful moment for our brand as we further demonstrate our dedication to educate and empower consumers from around the world to naturally manage their health and happiness.”
Currently trading at a market capitalization of $138M, PLNHF has a significant war chest ($24M) of cash on the books, which stands against about $20.2M 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 $73.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 243.3%. 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.