Despite $46M Q3 Loss, Planet 13 Responsible For $1 In Every $10 Of Cannabis Bought In Nevada
Portfolio Pulse from Nina Zdinjak
Planet 13 Holdings reported a Q3 loss of $46M, with revenues of $24.8M, down 3.3% YoY. The company attributed the decline to lower sales at the SuperStore and a slight decrease in wholesale revenue in Nevada. Despite the loss, the company was responsible for $1 in every $10 of cannabis bought in Nevada. The company is planning to expand to Illinois and Florida in the coming months.
November 09, 2023 | 2:27 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Planet 13 reported a Q3 loss but maintained a significant market share in Nevada. The company plans to expand to Illinois and Florida, which could potentially boost future revenues.
Despite the reported loss, Planet 13 has maintained a significant market share in Nevada, indicating a strong presence in the market. The planned expansion to Illinois and Florida could potentially boost future revenues, but it's uncertain how this will affect the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100