Planet 13 Holdings Has Returned ~30% in January: What’s Next?


Nov. 20 2020, Updated 5:20 p.m. ET

Stock performance

As of January 15, Planet 13 Holdings (PLTH) (PLNHF) was trading at 1.94 Canadian dollars, which represents a rise of 30.2% since the beginning of 2019. Also, the company is trading at a 193.9% premium to its 52-week low of 0.66 Canadian dollars, and a 44.6% discount from its 52-week high of 3.50 Canadian dollars.

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Driving factors

Earlier this month, Planet 13 Holdings announced that its Superstore in Las Vegas served 1,430 customers per day in December, and its average ticket exceeded the company’s expectations. The company’s management had credited the success of its recently launched TRENDI brand for its sales growth in December.

Also, on January 10, in a phone interview with BNN Bloomberg, Bob Groesbeck, the CEO of Planet 13 Holdings, stated that the company is open to a joint venture to expand its operations into Ontario. He added, “We’ve been in touch with a number of groups [in Ontario] that are in the process. If we move forward with that process, we’d look at more [joint venture] opportunities.”

These announcements appear to have increased investors’ optimism, leading to a rise in the company’s stock price, as Ontario is Canada’s largest consumer market.

Peer comparisons

Since the beginning of 2019, Planet 13 Holdings’ peers Acreage Holdings (ACRG-U)(ACRGF), MedMen Enterprises (MMEN) (MMNFF), and Wayland Group (WAYL) (MRRCF) have returned 23.4%, 5.7%, and 54.3%, respectively. The Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, has returned 27.4% YTD.

Next, we will look at Planet 13 Holdings’ strategies and analysts’ revenue expectations.


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