Planet 13 Hldgs Inc Stock Price, News & Analysis

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.

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) has announced the opening of its 27th Florida dispensary in Ocala on August 13, 2024. This marks the company's 31st dispensary nationwide. The new location at 8750 SW 200th St. Suite 101, Ocala, is strategically positioned on State Road 200, with over 35,000 cars passing daily. It's near the active adult retirement community, On Top of the World.

Bob Groesbeck, Co-CEO of Planet 13, expressed excitement about the company's growth plan for 2024 and beyond, building on the Florida team's significant year-over-year sales growth. The Ocala dispensary will serve both locals and visitors, offering online ordering for express in-store pickup. A grand opening celebration is scheduled for August 16th, featuring special promotions, food trucks, and exclusive gift bags for the first 100 guests.

Planet 13 Holdings Inc. (OTCQX: PLNH) reported Q2 2024 financial results, showing revenue of $31.1 million, a 20.3% increase from Q2 2023. The company posted a net loss of $8.1 million and Adjusted EBITDA of $3.2 million. Gross profit improved to 50.9% from 46.0% in the previous year. Key highlights include:

1. Closing of Florida acquisition, adding 26 medical retail stores, 1 cultivation facility, and 1 production facility.
2. Launch of new Medizin Branded Topicals and Planet 13 Lifestyles brand.
3. Opening of DAZED! consumption lounge.
4. Appointment of David Loop to the Board of Directors.

The company reported strong sequential organic revenue growth and improved margins across operations. Management expressed optimism about future growth, particularly in Florida expansion and innovation in cannabis entertainment and lifestyle branding.

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) has launched its non-cannabis touching Lifestyles brand company and announced its first sponsored athlete, UFC star Chito Vera. The partnership comes just before Vera's upcoming fight on August 3, 2024, at UFC Abu Dhabi, broadcast live on ABC TV. As part of the deal, Vera will promote Planet 13 Fight Club, the company's combat sports-themed division, through social media, podcasts, and event appearances.

The Lifestyles brand strategy aims to expand Planet 13's reach beyond cannabis into mainstream culture, including sports, music, fashion, and entertainment. This move allows Planet 13 to grow globally without the restrictions placed on cannabis products in certain jurisdictions. The company's new Planet 13 Fight Club apparel and gear line, along with the full Lifestyles collection, is available on the Planet 13 Lifestyles website.