As the cannabis industry enters the main stage, there are now different types of pot stocks trading in the market. From cultivators and processors to retailers and white-label product manufacturers, investors have a wide range of publicly listed pot stocks to choose from.
Today’s focus is on Planet 13 Holdings Inc (OCTMKTS:PLNHF, CNSX:PLTH), which, for the most part, is known for its retail store.
The company operates the Planet 13 Cannabis Entertainment Complex, which is located just steps away from the Las Vegas Strip.
Las Vegas has a reputation as the entertainment capital of the world. Nevada is also a legal cannabis state, with sales of recreational cannabis launching on July 1, 2017.
Planet 13’s store, which was opened on November 1, 2018, is just minutes away from every resort and casino on the Strip. Other than its strategic position, the complex is famous due to its sheer size. In fact, with a whopping 112,000 square feet, Planet 13’s Cannabis Entertainment Complex is not just the largest cannabis store in Nevada or even the U.S., but also in the entire world.
Of course, compared to companies that operate chains of cannabis dispensaries, Planet 13’s single facility may not seem like much. However, that one facility has allowed the company to build a solid position in Nevada’s cannabis industry.
To give you an idea, Planet 13’s Cannabis Entertainment Complex received more than one million visitors in 2019, brought in approximately $63.0 million in revenue for the year, and was responsible for around nine percent of total cannabis sales in the state of Nevada. (Source: “Corporate Presentation September 2020,” Planet 13 Holdings Inc, last accessed October 5, 2020.)
And that was just a start. In August, the company announced that, as part of