It’s unlikely that Walt Disney will ever jump into the cannabis market, but there’s a company that could be viewed as the “Disneyland of Cannabis” — Planet 13 Holdings (OTC:PLNH.F). In this Fool Live video, Healthcare and Cannabis Bureau Chief Corinne Cardina and longtime Motley Fool contributor Keith Speights discuss what’s going on these days for Planet 13 and if it’s a good pick for investors.
Corinne Cardina: So Planet 13 is the first one that we’re going to talk about. This is not a multi-state operator per se because it really only has one dispensary that’s currently operating. But, boy, is it a dispensary! This is like the Disneyland of cannabis in Las Vegas.
It’s bigger than your average Walmart. You can actually see them manufacturing all the different cannabis derivatives. They’ve got restaurants, they’ve got entertainment, they have a museum, and it’s really become a destination.
Now what’s interesting is, of course, in the pandemic, places like this really don’t thrive and it’s only got one open right now. Planet 13 actually managed to do a pretty graceful pivot to delivering cannabis to locals, so shifting who their target market is. Do you have any thoughts on this stock, Keith?
Keith Speights: Yeah, they did. I will say I was, admittedly, a little skeptical about the management team, what the problems they would run into. They’ve done an excellent job of adapting to very challenging times and Planet 13, they got hit really hard. They operate right off of the Las Vegas Strip with their superstore there, and of course, when the pandemic hit, tourism just evaporated.
But the management team really moved quickly. They switched to a distribution model within the state of Nevada and serving the local market more than just tourists and really have managed to