Start Your Risk-Free Trial Subscription Here, Farfetch (NYSE:FTCH) Stock a Buy? This $1 Marijuana Stock on the Verge of Breakout. Once Phase II opens, the company will have access to additional sources of revenue, further improving its financial profile. Innovative Industrial Properties Inc: A Top Pot Stock That Doesn’t Grow any Pot, InterDigital Inc: Under-the-Radar 5G Stock Could Reward Investors. Past success does not guarantee future profit !! Planet 13 has quickly become a must-see Las Vegas tourist destination with vacationers and conference goers . As of 2020 November 12, Thursday current price of PLNHF stock is 3.680$ and our data indicates that the asset price has been stagnating for the past 1 year (or since its inception). Reported EBITDA was $1.3 million and cash flow from operating activities was also $2.6 million. One such retailer is already finding success with this approach — Planet 13. Regeneron Stock Could Be on the Verge of a Huge Boost, Stock Market Basics: How to Select the Best Tech Stocks in 2020, Why Buying the "Dogs of the Dow" Could Pay Off in 2020, Tech Stock Analysis: Top Tech Trends of 2020; Part 2, Tech Stock Analysis: Top Tech Trends of 2020; Part 1, Why Dow 30,000 Could Be a Conservative Target in 2020. (Source: Ibid.). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. This suggests a possible upside of 14.4% from the stock's current price. Consumers will get more and more comfortable with cannabis over time, there will soon be activities onsite for both cannabis and non-cannabis enthusiasts to enjoy, and, from a marketing perspective, the Planet 13 brand name has nowhere else to go but up. At less than $2 per share, Planet 13 Holdings Inc (OTCMKTS:PLNHF, CNSX:PLTH) is an overlooked pot stock that could deliver big returns. Future price of the stock is predicted at 5.507453$ (49.659% ) after a year according to our prediction system. Currently, I am CEO and. Now, before you read any further, please be sure to do one thing — sit the heck down. When a retail store gets more customers—who also happen to spend more money—its revenue is bound to go up. Due to Planet 13 Holdings Inc’s solid financial performance, the stock market has taken a liking to the company. Find real-time PLNHF - Planet 13 Holdings Inc stock quotes, company profile, news and forecasts from CNN Business. View analysts' price targets for Planet 13. MarketBeat does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. It says nothing of potential expansion, which is definitely on Planet 13’s radar screen as well. While digitally native brands might be fun for the retail cognoscenti to talk about at parties, they are so blasé at this point. © Copyright 2020: Lombardi Publishing Corporation. The high price target for PLNHF is $5.50 and the low price target for PLNHF is $3.00. Here are photos of the design: Interior View of Planned Planet 13 Coffee Shop, View of Las Vegas Strip from Inside Planet 13 Coffee Shop & Pizzeria. Identify stocks that meet your criteria using seven unique stock screeners. Planet 13 Holdings Inc. annual stock financials by MarketWatch. The superstore has a whopping 16,200 square feet of space, making it the biggest cannabis store not just in the U.S., but the entire world. Currently, I am CEO and founder of Omni Talk, one of the fastest growing blogs in retail, and Third Haus, a retail technology lab and coworking space in Minneapolis. All rights reserved. This means that this stock is suited as a new addition to your portfolio as trading bullish markets is always a lot easier. Planet 13, which I also wrote about back in March, is the world’s largest cannabis entertainment concept. It’s working, we are now drawing over 3,000 visitors per day and generating over $5 million a month in revenue.”. And that number has been trending upward. Our mission from day-one has been to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13 Holdings stock forecast & analyst price target predictions based on 3 analysts offering 12-months price targets for PLNHF in the last 3 months. Based on just the past three months, Planet 13 is well on its way to generating nearly $60 million in annual revenue in just 16,000 square feet of salesfloor space. Don’t forget either that this reported volume is all just out of one location. 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According to the company’s latest report, the number of average visitors per day to the Planet 13 Cannabis Entertainment Complex increased to 3,405 in June 2019. Yet, week after week, the industry is regaled with tales from the likes of companies with cool sounding names, companies like Away, Casper, and Rent the something or other. The thing is, though, this is not just an average marijuana dispensary. When it does, the working definitions and the nation's preconceptions of outing-based entertainment will likely change irrevocably. Gross profit before biological adjustments totaled $7.4 million, marking a staggering 354% increase from the $1.6 million generated in the year-ago period. (Source: “Planet 13 Announces Customer Traffic for June 2019,” Planet 13 Holdings Inc, July 9, 2019.). 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You can unsubscribe at any time. In its first month of operation, the facility welcomed on average 1,848 visitors per day. Going forward, there is a major catalyst that could further boost the stock’s appeal. At 112,000 square feet, and right off the Las Vegas Strip in Nevada, Planet 13 is or soon will be to cannabis what Disneyland is to plush, mouse-shaped toys. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). 2 brokers have issued 12-month price objectives for Planet 13's shares. And that’s basically what has been going on with Planet 13. While Planet 13’s total architectural footprint is 112,000 square feet, Planet 13, when it opened back in November 2018 and to this day, leverages just 40,000 square feet of its total space. Our new Planet M CBD brand will be sold across the country online, further increasing our brand recognition. View our full suite of financial calendars and market data tables, all for free. Learn more. Their forecasts range from $3.00 to $5.50. Still, with a market capitalization of less than $300.0 million and a share price of less than $2.00, Planet 13 stock remains undiscovered by a lot of mainstream investors. To see all exchange delays and terms of use please see disclaimer. Their average twelve-month price target is $4.25, predicting that the stock has a possible upside of 15.49%. . In the fourth quarter of 2018, Planet 13 Holdings Inc generated $8.3 million of revenue, representing a 145% increase from the $3.4 million generated in the fourth quarter of 2017. Planet 13 opened its giant complex on November 1, 2018. Now, it is far too early to say that Planet 13 will itself become a unicorn, but its early results indicate that it is a retail concept that is clearly gaining momentum within a very short period of time. Opinions expressed by Forbes Contributors are their own. View which stocks are hot on social media with MarketBeat's trending stocks report. Having interviewed Groesbeck for a podcast back in March, Groesbeck would tell you that these results are only just the beginning. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data. Tesla Stock 2021: Following Huge Surge in 2020, Can TSLA Stock Continue to Rise? (Source: “Planet 13 Announces First Quarter 2019 Financial Results,” Planet 13 Holdings Inc, May 30, 2019.). Planet 13 Holdings stock forecast & analyst price target predictions based on 3 analysts offering 12-months price targets for PLNHF in the last 3 months.
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