Planet 13 Hldgs Inc Stock Price, News & Analysis

Planet 13 Holdings announces an exclusive launch event for Khalifa Kush 'Redferrin' Concentrates and Vapes during National Finals Rodeo week. The event will be held on December 12, 2024, from 1:30 p.m. to 4:00 p.m. at Planet 13's Las Vegas Superstore.

The event features Warner Music Nashville Country artist Redferrin for a meet-and-greet session (2:00-3:30 p.m.) and rodeo star Leslie Smalygo, winner of four rodeo events in 2024, for autograph signing (1:30-2:00 p.m.).

This launch marks the debut of 'Yellow by Khalifa Kush,' a new product line pairing unique strains with emerging artists. The 'Redferrin' products represent the first collaboration in this series, following Redferrin's partnership with Wiz Khalifa earlier this year.

Planet 13 Holdings has appointed Bryant Ison as VP of National Marketing to drive brand growth. Ison brings over 20 years of marketing expertise from global brands like Pepsi, Band-Aid, and Clorox, along with cannabis industry experience as former CMO of Columbia Care. He will oversee the expansion of Planet 13's in-house brands, including Trendi, Medizin, HaHa gummies, and Dreamland chocolates. The company plans to launch brands in new markets, pursue celebrity partnerships, and transition VidaCann locations in Florida to the Planet 13 banner. Planet 13 currently operates 32 retail locations across four states.

Planet 13 Holdings reported Q3 2024 financial results with revenue of $32.2 million, up 29.7% year-over-year, driven by Florida operations and strong Illinois store sales. Gross profit improved to $16.7 million (51.9% margin) from $11.1 million (44.7%). The company posted a net loss of $7.4 million, significantly lower than the previous year's $46.3 million loss. Adjusted EBITDA increased to $1.3 million from $0.2 million, benefiting from Florida inclusion and better gross margin performance. The company maintains a strong balance sheet with $27.4 million in cash.

Planet 13 Holdings has appointed Jillian Austin as National Head of Marketing Experiences to accelerate its growth as a national brand. Austin, previously Director of Brand Partnerships at AREA15, brings 17 years of experience in immersive entertainment and marketing. She will oversee special events, celebrity partnerships across Planet 13's SuperStore and 31 neighborhood stores nationally, and lead the newly created Planet 13 Lifestyles brand. The company aims to leverage partnerships with global companies and celebrities like Mike Tyson and Wiz Khalifa, while expanding its reach across all 50 U.S. states and internationally.

Planet 13 Holdings, a vertically-integrated multi-state cannabis company, has scheduled the release of its Q3 2024 financial results for November 8, 2024, after market close. The company will host a conference call on the same day at 5:00 p.m. ET to discuss the results and provide business updates. The call will feature Co-CEOs Bob Groesbeck and Larry Scheffler, along with CFO Dennis Logan.

Planet 13 Holdings has launched the Healing Heroes initiative to support Florida veterans and first responders by helping cover medical cannabis card costs from November 1-14, 2024. The company is partnering with The Grateful Veteran and DocMJ to facilitate the program, which coincides with Veterans Day on November 11.

The initiative aims to make medical cannabis more accessible by defraying costs for cards and renewals through a network of cannabis doctors across Florida. The Grateful Veteran will manage applicant intake and vetting through online signups, connecting participants with nearby doctors. Florida residents who are veterans or first responders can register through The Grateful Veteran's website to participate in this -time program.

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) is set to open its 28th dispensary in Florida and 32nd nationwide on October 19, 2024. The new Planet 13 Port Orange dispensary is located at 900 Village Trail, Port Orange, near popular shopping areas and tourist attractions. It will operate daily from 9 a.m. to 8 p.m.

The dispensary is strategically positioned in the Deltona-Daytona Beach-Ormond Beach metropolitan area, which has a population of over 600,000 and attracted more than 10 million visitors in 2023, generating $5 billion in tourism revenue. The grand opening celebration will feature a Releaf Clinic for medical card assistance, a local food truck, and special gifts for the first 100 patients.

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) has announced plans to acquire a 3,158 square-foot dispensary in Las Vegas, Nevada from Exhale Brands Nevada The acquisition includes cannabis and non-cannabis inventory, along with medical and recreational licenses. The total purchase price is US$6.9 million plus the value of cannabis inventory, with $4.0 million paid in cash at closing and the remainder through a secured promissory note.

This strategic move aligns with Planet 13's Nevada retail expansion strategy, aiming to increase scale, operating leverage, and verticality in the state. The new dispensary, currently operating as Exhale, features a drive-through and is located at 4310 W Flamingo Rd. The acquisition is expected to complement Planet 13's SuperStore and other Nevada neighborhood stores, while allowing the company to benefit from increased verticality, expand branded market share, and share fixed costs across dispensaries.

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) has announced an exclusive partnership with Wiz Khalifa's Khalifa Kush to cultivate, manufacture, and sell premium cannabis products at the Planet 13 Entertainment Complex in Las Vegas. This collaboration marks the first-ever 'Store in Store' for Khalifa Kush inside Planet 13's 112,000 square-foot facility. The launch, set for August 19, 2024, will feature exclusive strains like KK, Violet Sky, and Khalifa Mints, never before grown in Nevada. To celebrate, Wiz Khalifa will make a personal appearance on August 30, offering fans a meet-and-greet opportunity. This partnership combines Khalifa Kush's proprietary genetics with Planet 13's rigorous growing practices, promising to showcase these strains at their best.