In this video I discuss Planet 13 Holdings (PLNHF), which is a company that is growing rapidly and I believe has massive potential for growth over the long-run.
Planet 13 Holdings owns the largest MJ supercenter, located right outside the Las Vegas strip. This location did $63.5 million in revenue in 2019 alone and is becoming more popular as new people find out about it and visit the supercenter.
In addition, Planet 13 has several unique brands including Medizin, Trendi, LeafVine, Dreamland Chocolates and Ha Ha Gummies, which it sells within its Las Vegas supercenter. The company also plans to distribute these brands across the country as legalization gains traction in the coming years.
Planet 13 has plans to build additional supercenters in the future, and currently they are constructing their Santa Anna, California location, which will be open in 2021. The location is very close to DisneyLand and should bring in lots of foot traffic, which will result in $10's of millions in additional revenue for Planet 13.
Finally, Planet 13 has a fortress balance sheet, with very little debt and at the end of 2019 they had $12.8 million in cash on their balance sheet. By the end of Q2 2020, Planet 13 had $22.7 million on their balance sheet and they recently just closed a $20 million public offering, which will further improve their cash position and allow them to expand the business.
All together, Planet 13 looks like a company that is poised for great long-term growth and it is why I am bullish on this $3 stock! Let me know what you think in the comments down below!!
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