Planet 13: Riding high on the Las Vegas strip – PotNetwork

What’s up with Planet 13? Shares (OTC:PLNHF) gained a mere 20 percent in the opening 80 days of this year, an embarrassing underperformance to the 50-plus percent move for the average cannabis stock. But oh how things have changed. Since March 20, the price has shot up by 64 percent.

For the record, this equals a 1,536 percent on an annualized basis. That type of performance rivals cryptocurrencies during their 2017 heyday: Wow, Bang, Woosh!

Please excuse the hyperbole. I don’t ordinarily resort to cheap tactics to gain attention. But in the case of $380 million market cap Planet 13, we are dealing with Las Vegas. This is where no amount of hyperbole is enough.

Who is Planet 13?

If the name isn’t familiar, it could be due to the almost total lack of Wall Street coverage. Here is how management describes themselves. Planet13 “is a vertically integrated company active in the cultivation, production, and distribution of both medical and recreational cannabis in the state of Nevada.”

[World’s largest cannabis superstore and entertainment complex opens in Vegas]

The Company holds two cultivation licenses — one 15,000-square-foot facility in Las Vegas with a current production capacity of approximately 2,100 lbs/year (950 kg/year) of dried cannabis. The second cultivation license is in Beatty, Nevada with the potential for over 2,300,000 square feet of greenhouse production capacity.

Planet 13 also has two dispensary licenses, one for medical that operates under the Medizin brand and the second for the sale of recreational product. For the nine months of 2018 ending September 30, Planet 13 revenues amounted to a respectable $13 million that resulted in an operating loss of $4 million. Up to this point, there is nothing to separate Planet 13 from anyone else on the cannabis planet.

But on November 1, 2018, everything

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