Streetbeat News

PLNHF

Planet 13 Holdings Inc

Industry

Medicinal and Botanical Manufacturing

Open

0.86

Mkt cap

202M

Volume

333K

High

0.96

P/E Ratio

-3.50

52-wk high

1.74

Low

0.86

Div yield

N/A

52-wk low

0.45

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.

Portfolio Pulse from Joana Scopel

December 08, 2023 | 8:11 pm

Zuanic & Associates has initiated coverage on Planet 13 Holdings Inc Ordinary Shares (OTC:PLNHF) with an Overweight rating. The report was released on 2nd November 2023.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 1:05 pm

Equity research firm Zuanic & Associates has initiated coverage of Planet 13 Holdings Inc. (OTC:PLNHF) with an Overweight rating, citing the company's unique and scalable superstore concept. The firm believes that Planet 13's stock valuation does not fully capture its potential. Despite potential execution risks, Planet 13's growth initiatives, including the acquisition of VidaCann, are expected to drive more than 60% cumulative top-line growth by CY25. The company's expansion into Florida through the VidaCann acquisition is expected to make Florida the second-largest state for Planet 13. However, the company's financial performance is on the lower end among MSOs, with negative margins and operating cash flow.

Portfolio Pulse from Nicolás Jose Rodriguez

November 03, 2023 | 9:57 pm

Pablo Zuanic, managing partner and senior analyst at Zuanic & Associates, has analyzed the capital expenditure (capex) strategies of 20 prominent cannabis Multi-State Operators (MSOs). Amid high interest rates and regulatory uncertainties, most companies are prioritizing cost reduction and cash flow management. However, Zuanic suggests that some MSOs with the resources should increase capex for profitable growth. Green Thumb (OTC:GTBIF) leads the way with a capex-to-sales ratio of 26% in 1H23, well above the group average of 6%. Other high capex players include MariMed (OTC:MRMD), 4Front (OTC:FFNTF), and Cresco (OTC:CRLBF).

Portfolio Pulse from Nicolás Jose Rodriguez

October 18, 2023 | 7:16 pm

Zuanic & Associates has analyzed the financial net debt metrics of 20 multi-state operators (MSOs) in the cannabis industry to identify potential candidates for equity raises or debt restructuring. Trulieve and Curaleaf have the highest net debt among the group. The report also includes income tax payables, gross leases, and warrant derivative liabilities in its definition of net debt, revealing that Curaleaf, Cresco, and Trulieve hold the highest absolute 'broad' net financial debt. Several MSOs, including Acreage, Ascend Wellness, AYR, Columbia Care, 4Front, iAnthus, Jushi, StateHouse, and TerrAscend, present a higher probability of needing equity raises.

Portfolio Pulse from Nicolás Jose Rodriguez

September 21, 2023 | 2:55 pm

Planet 13 Holdings Inc. is planning to acquire VidaCann, a company operating 26 dispensaries in Florida. The acquisition, expected to close by January 2024, is valued at approximately $49 million and includes a fully operational greenhouse cultivation facility and an advanced processing and analytical lab. The deal is expected to make Planet 13 a significant player in Florida's cannabis market, which is already substantial, surpassing $1.4 billion. The recent increase in stock prices, driven by the HHS rescheduling news, indicates a looming wave of consolidation in the cannabis market.

Portfolio Pulse from Nicolás Jose Rodriguez

September 18, 2023 | 4:01 pm

Florida's cannabis market is showing robust growth with a valuation of over $1.4 billion and a volume growth rate surpassing 30%. The potential for recreational legalization has driven stock prices upward. Planet 13 (OTC:PLNHF) plans to acquire VidaCann, a significant player in the state. Independent operators like Cansortium and Green Dragon are rising, while multi-state operators like Surterra, iAnthus, and Columbia Care (OTC:CCHWF) might consider divesting their Florida assets. Trulieve (OTC:TCNNF) remains the market leader, but Verano (OTC:VRNOF) and AYR (OTC:AYRWF) are experiencing significant growth.

Portfolio Pulse from Nicolás Jose Rodriguez

September 15, 2023 | 2:30 pm

The cannabis industry is introducing new products and technologies, including vape cartridges, mushroom and cannabis-infused gummies, and AI chatbots. Companies mentioned include Timeless Vapes, Hyphae Wellness, Ovation Science Inc., Planet 13 Holdings, Inc., 1606 Corp., Aurora Cannabis Inc., and MariMed Inc. The Benzinga Cannabis Capital Conference in Chicago will host a panel discussion on leveraging technology for smarter retail strategies.

Portfolio Pulse from Joana Scopel

September 15, 2023 | 1:17 pm

Planet 13 Holdings Inc. has announced a $48.9 million deal to acquire VidaCann, LLC, a move that will make it a direct competitor to Trulieve in the Florida market. The deal includes VidaCann's 26 dispensaries, a greenhouse cultivation facility, and a processing and analytical lab. Post-transaction, former VidaCann equity holders and the VC Advisor will have approximately 26.09% pro forma ownership in Planet 13.

Portfolio Pulse from Jelena Martinovic

August 28, 2023 | 6:10 pm

Planet 13 Holdings Inc. (OTC:PLNHF) reported Q2 2023 financial results, showing a 9.1% revenue decrease to $25.8 million due to lowered cannabis prices in Nevada. However, the company reported improved gross and EBITDA margins, and reduced total expenses by 1.6% to $15.4 million. The net loss expanded to $4.3 million due to potential M&A-associated costs. The company's co-CEOs highlighted strategic growth and margin improvements, and the outlook for 2024 appears promising with $40.5 million in cash and strategic projects.

Portfolio Pulse from Nicolás Jose Rodriguez

August 09, 2023 | 10:58 pm

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