Planet 13 Holdings Has a Cannabis Retail Edge – SmallCapPower

Save ArticlePlanet 13 Holdings Inc. (CSE:PLTH) recently opened its Planet 13 Superstore, which is expected drive its customers and revenues multifold over the coming quarters

SmallCapPower | February 13, 2019: Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) is a vertically-integrated U.S. cannabis company with cultivation, production and distribution in the state of Nevada. Planet 13 operates a dispensary selling both recreational (Planet 13) and medical (Medizin) product lines.

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On November 1, 2018, the Company opened its Planet 13 Superstore, which is strategically located next to the famed Las Vegas Strip, and is expected to attract more than 2,000 customers daily, three times its other operating dispensary.

Investment thesis

Vertically-integrated cannabis player Profitable dispensary Large market opportunity Recently-launched Planet 13 Superstore to accelerate growth

Recently-launched Planet 13 Superstore to accelerate growth

Planet 13 Holdings opened its Planet 13 Superstore in November 2018. Located in close proximity to the Las Vegas Strip and housed in a 100,000 sq.ft commercial space, the Superstore is the largest cannabis entertainment complex located in the entertainment capital, Las Vegas. The store will offer diverse brands in addition to its own Medizin Brand.

In a research report dated December 4, Beacon Securities analysts Doug Cooper and Susan Xu said its Planet 13 Superstore is tracking a one-year revenue run rate north of US$40 million. These analysts believe that Planet 13 Holdings could capture a 30% share of Nevada’s US$1.3 billion cannabis market, which would equate to US$390 million in revenue for Planet 13.

Strategically located near the Las Vegas Strip, Planet 13’s state-of-the-art cannabis dispensary is spread over 2,300 sq ft. The dispensary is open 24/7 and has attracted 1,400 customers per day on its first month of opening.

Source: Leafly

Source: The Manual

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