Planet 13 Holdings Inc (OTCMKTS:PLNHF, CNSX:PLTH) remains one of the best U.S. pot stocks going. Planet 13 stock is up 75.2% year-over-year, 72% year-to-date, and a whopping 453% since hitting March lows.
With Planet 13 Holdings Inc being owner of the world’s largest cannabis dispensary, PLNHF stock has been on a great trajectory for a number of reasons.
First, the entire cannabis industry has experienced a renaissance. In addition, the company continues to grow its market share in Nevada, reporting strong first-quarter results.
As expected, Planet 13’s second-quarter results were not stunning. Not a surprise, since Nevada was shut down as a result of the coronavirus, as was most of the country. Still, because Nevada, along with 10 other states where adult-use marijuana is legal, declared cannabis dispensaries “essential,” Planet 13 fared better than others during the shutdown.
On the plus side, Las Vegas is up and running again and the company’s business is booming. In fact, Planet 13 Holdings Inc rang in record revenue in July and August.
The company’s own products are now available in 33 dispensaries in Nevada, plus it will soon be reopening its Medizin dispensary in Las Vegas.
Most exciting perhaps, Planet 13 will be opening a new dispensary in Santa Ana, California in 2021. It will be the world’s second largest dispensary.
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PLNHF Stock Overview
Planet 13 Holdings owns and operates the largest pot dispensary in the world. It also holds six licenses for the Nevada market and, as mentioned above, is slated to open the world’s second largest dispensary in California next year. (Source: “Corporate Presentation, June 2020,” Planet 13 Holdings Inc, last accessed August 2, 2020.)
Planet 13’s Las Vegas SuperStore, located just off the