Las Vegas-Based Planet 13 Expands Retail Portfolio Into Illinois With Waukegan Dispensary
Portfolio Pulse from Joana Scopel
Planet 13 Holdings Inc. (OTC:PLNHF) has opened a new 4,000 sq. ft. cannabis dispensary in Waukegan, Illinois, as part of its retail expansion strategy. The store is designed to provide an immersive retail experience similar to the company's Las Vegas SuperStore. Located near a shopping and entertainment district, the dispensary is expected to attract customers from Chicago and Milwaukee. Planet 13 is also expanding in Florida with the acquisition of VidaCann, which will bring its total number of dispensaries in the state to 30. Despite these developments, PLNHF's stock was down 8.83% at $0.784 per share on Friday afternoon.
December 08, 2023 | 8:11 pm
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Planet 13 Holdings Inc. has launched a new dispensary in Illinois and is expanding in Florida, but its stock price dropped by 8.83% to $0.784.
The opening of a new dispensary and expansion plans in Florida indicate positive growth for Planet 13. However, the stock price drop suggests that the market may have concerns about the company's profitability or the broader market conditions may be affecting the stock negatively. The short-term impact is negative due to the recent price action, but the long-term outlook could be positive if the expansion drives revenue growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100