|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||1.3886 - 1.4599|
|52 Week Range||0.5015 - 2.6695|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.65|
Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot looking at the rapid expansion plans coming to the market after strong Q1 Financials. Q1 2019 is turning out to be quite the boon for many cannabis companies and most are wasting little time in taking advantage of this added cash flow and planning for future expansion of their respective companies.
LAS VEGAS , Feb. 7, 2019 /CNW/ - Planet 13 Holdings Inc. (PLTH.CN) (PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, commends the proposal by Governor Sisolak to create the Cannabis Compliance Board ("CCB") which will review recent licensing procedures, including the most recent licensing round announced on December 5, 2018 . The CCB will also oversee the development of future legislation including that governing consumption lounges. " Nevada's gaming industry is seen as the international gold standard, and there is no reason we cannot take steps to ensure our marijuana industry is viewed the same way," Sisolak said in a statement according to recent media reports.
Curaleaf Is Up ~40% in 2019: Is There More Upside?(Continued from Prior Part)Current operations Curaleaf Holdings (CURA) (CURLF) is a vertically integrated cannabis company headquartered in Wakefield, Massachusetts. The company’s footprint spans
Why Cannabis Stocks Are Trading in the Red TodayCrackdown on CBD Yesterday, the New York Times reported that the Department of Health and Mental Hygiene had ordered restaurants under its jurisdiction not to sell food products containing CBD. The
Planet 13 Holdings Reports Growth in Its January TrafficThe announcement On February 5, Planet 13 Holdings (PLNHF) announced that in January, it served an average of 1,550 customers per day at its Superstore in Las Vegas compared to 1,430 customers
LAS VEGAS , Feb. 5, 2019 /CNW/ - Planet 13 Holdings Inc. (PLTH.CN) (PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, announced today that it served an average of 1,550 customers per day in January compared to an average of 1,430 per day in December, an 8.4% increase month over month. Bob Groesbeck , Co-CEO of Planet 13 said, "Our Medizin dispensary grew from serving an average of less than 200 people per day, to over 800 people per day over a period of two years. The Superstore has been open for three months and we are very pleased with the steady growth in customer traffic and average ticket.
Can iAnthus Capital Maintain Its Upward Momentum in 2019?(Continued from Prior Part)Strategic partnershipsApart from owning Mayflower, GrowHealthy, Citiva, and Grassroots Vermont, iAnthus Capital Holdings (IAN) (ITHUF) has made two significant
Planet 13 and Trulieve Cannabis Performed Well Last WeekStock performanceLast week, the broader equity market was stronger and the S&P 500 Index rose 2.9%. However, cannabis stocks had mixed performances. Among the ten companies considered for
MedMen Announces Preliminary Q2 RevenueSecond-quarter revenue Today, MedMen Enterprise (MMNFF) posted unaudited system-wide revenues of $29.9 million for the second quarter of fiscal 2019, which ended on December 29, 2018. Year-over-year, the
Planet 13 Holdings Has Returned ~30% in January: What’s Next?(Continued from Prior Part)Valuation multiplePlanet 13 Holdings (PLTH) (PLNHF) is still in the growth phase of its business lifecycle. During this period, expenses will be on the higher
Planet 13 Holdings Has Returned ~30% in January: What’s Next?(Continued from Prior Part)Current operationsAs of November 12, Planet 13 Holdings (PLTH) (PLNHF) holds two cultivation licenses with one in Clark County, Nevada, and the second one in
Planet 13 Holdings Has Returned ~30% in January: What’s Next?Stock performanceAs 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
Wayland to Sell 49.9% of International Business to ICCThe announcementOn the back of its previous statement that it would explore strategic alternatives for its international assets, Wayland Group (MRRCF) announced today that it signed a letter of
AGCO Announces Winners of Ontario Cannabis Retail Lottery ## The announcement On January 11, the Alcohol and Gaming Commission of Ontario (or AGCO) announced the names of the 25 winners of its retail cannabis lottery that can now apply for a license to retail cannabis products in the province of Ontario. The licenses were divided regionally. Five of the licenses were allocated to the city of Toronto, six went to the Greater Toronto area, five went to Ontario East, two went to Northern Ontario, and seven went to Western Ontario. AGCO received ~17,000 applications. Nearly 64% of the license came from sole proprietorships, and registered companies constituted only 33%. Pure Alpha Holdings, Tripsetter, CGS Foods, and the Niagara Herbalist were some of the corporations that were selected. The winners of the lottery will now have to pay $6,000 for the retail operator license and also submit a $50,000 letter of credit that is valid until December 13, 2019, within five days of the announcement of lottery results. The government wants all the winners of the lottery to start their operations on April 1. So, it has levied hefty fines on any delays. If the retailers fail to start their operations by April 1, they will be fined $12,500, and the penalties can rise to $50,000 if retailers fail to start their business by April 30. ## Stock performance Cannabis stocks have started 2019 on a strong note. YTD, Acreage Holdings (ACRGF), MedMen Enterprises (MMNFF), Planet 13 Holdings (PLNHF), and Curaleaf Holdings (CURLF) have returned 13.6%, 17.0%, 14.3%, and 26.9%, respectively. Also, the broader comparative index, the ETFMG Alternative Harvest ETF (MJ), returned 23.4% during the same period.
Will 2019 Be a Better Year for MedMen Enterprises? In the first quarter of fiscal 2019, which ended on September 30, MedMen Enterprises (MMEN) (MMNFF) posted revenue of $21.46 million, a rise of 1,086% from $1.81 million in the corresponding quarter of fiscal 2018. The company’s cultivation and wholesale production operations didn’t generate any material revenue during the quarter.
Will 2019 Be a Better Year for MedMen Enterprises? ## Stock performance On January 10, MedMen Enterprises (MMEN) (MMNFF) was trading at 4.24 Canadian dollars, representing a fall of 8.8% since its announcement of its fiscal 2019 first-quarter earnings results on November 29. The company is currently trading 36.3% higher than its 52-week low of 3.11 Canadian dollars and 57.1% lower than its 52-week high of 9.88 Canadian dollars. The pessimism surrounding cannabis stocks and the weakness in the broader equity market due to the Fed’s interest rate increase and concerns over the US government shutdown led MedMen’s stock price to fall to 3.64 Canadian dollars as of the end of the day on December 24. However, on December 24, MedMen announced that it had entered into a definitive agreement to combine its business and PharmaCann’s business under a new company called New MedMen. The transaction still requires approval from MedMen’s shareholders, and it also faces regulatory and legal hurdles. On completing the transaction, the new combined company will have a permit to operate 76 retail stores and 16 cultivation and production facilities. It will also have the license to operate in 12 states. These 12 states cover ~50% of the US population. Cowen Group expects the addressable cannabis market for these 12 states to reach $40 billion by 2030. The optimism surrounding the acquisition drove MedMen’s stock price. On January 8, two of MedMen’s biggest investors, Brent Cox and Omar Mangalji, sued the company for “alleged breaches of fiduciary duty,” leading its stock price to fall on January 9. ## Peer comparison From November 29 to January 10, MedMen’s peers Acreage Holdings (ACRG-U) (ACRGF), Planet 13 Holdings (PLTH) (PLNHF), and Curaleaf Holdings (CURA) (CURLF) returned 2.7%, -3.2%, and 10%, respectively. The Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, returned -1.0% during the same period. Next, let’s look at analysts’ revenue expectations for MedMen in 2019 and 2020. Continue to Next Part Browse this series on Market Realist: * Part 2 - Analysts Expect MedMen’s Revenue to Rise in 2019 and 2020 * Part 3 - Analysts Favor ‘Buy’ Ratings on MedMen Enterprises
In a phone interview with BNN Bloomberg on January 10, Bob Groesbeck, the CEO of Planet 13 Holdings (PLTH) (PLNHF), stated that the company is open to a joint venture to expand its operations into Ontario. Groesbeck added, “We’ve been in touch with a number of groups [in Ontario] that are in the process.
Planet 13’s Revenue and Customer Traffic Rose in December ## The announcement On January 7, Planet 13 Holdings (PLNHF) announced that it had served 1,430 customers per day in December and that its average ticket size had been better than expected. The company’s management has credited the success of its recently launched TRENDI brand for its sales growth in December. TRENDI, which launched on November 12, 2018, has been resonating well with customers. The company has sold ~5,000 units of TRENDI, which represents a rise of 260% from ~1,700 units in November. TRENDI comes in three product types, which include disposable vapes and concentrates. In December, TRENDI generated 5% of Planet 13’s total revenue. Speaking about Planet 13’s December sales, Bob Groesbeck, Planet 13’s co-CEO, said, “We are very pleased with the trajectory of customer traffic and average ticket at the Superstore, having increased our December revenue and customer counts over November in what is always a seasonally slow period for Las Vegas convention and visitor traffic. With the Consumer Electronics Show kicking off a historically strong period on January 8th and our marketing efforts continuing to ramp-up, we expect to continue growing the number of customers served per day and amount of revenue generated.” ## Stock performance The announcement appears to have increased investors’ confidence, as Planet 13 stock rose 2.8% on January 7. YTD (year-to-date), the stock has returned 6.4%. Its peers Acreage Holdings (ACRGF), MedMen Enterprises (MMNFF), and Curaleaf Holdings (CURLF) have returned 27.5%, 20.6%, and 22.1%, respectively, during the same period. The Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, has returned 10.5% YTD.
All Eyes on Ontario’s Cannabis Retail License Lottery ## Cannabis retail license lottery On January 7, Ontario’s provincial government will begin accepting applications for 25 licenses to retail cannabis in the province. The winners will be selected through a lottery process, which will be held on January 11. The AGCO (Alcohol and Gaming Commission of Ontario) has developed a software program to select the winners from the entries. ## Terms of the lottery The companies are allowed to submit their expression of interest with an application fee of $75 to the AGCO from January 7–9 to win one of the 25 available retail licenses. The winners of the lottery will have to pay $6,000 for the retail operator license and another $4,000 for the retail store authorization fee. They also must provide a $50,000 letter of credit that is valid until December 13, 2019, within five days of the announcement of lottery results. ## Fines The government has set steep fines for a delay in the opening of stores. The government has set a late fine of $12,500 if retailers fail to start their operations by April 1, and the penalties can extend to $50,000 if retailers fail to start their business by April 30. ## Stock performance Cannabis stocks have started 2019 on a brighter note. As of January 4, the Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, has returned 7.0% YTD. During the same period, the ETFMG Alternative Harvest ETF (MJ), MedMen Enterprises (MMNFF), Planet 13 Holdings (PLNHF), and Curaleaf Holdings (CURLF) have returned 8.6%, 23.0%, 3.5%, and 18.3%, respectively.
Cannabis Stocks Start 2019 on a Bright Note ## Cannabis sector Last week was favorable for the cannabis sector. On December 28–January 4, the Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, returned 5.1%, while the ETFMG Alternative Harvest ETF (MJ) returned 7.7%. In comparison, the S&P 500 Index rose 1.9% during the same period. ## Cannabis stocks Among the ten cannabis stock considered for our analysis, nine companies delivered positive returns last week, while only one company’s return was negative. During the same period, VIVO Cannabis (VVCIF), MedMen Enterprises (MMNFF), and Planet 13 Holdings (PLNHF) posted strong performances and returned 27.5%, 23.6%, and 21.3%, respectively. Investors’ optimism surrounding hemp legalization caused the stocks to rise last week. During the same period, Curaleaf Holdings (CURLF), Wayland Group (MRRCF), Origin Agritech (SEED), Acreage Holdings (AVRGF), iAnthus Capital Holdings (ITHUF), and Green Organic Dutchman Holdings (TGODF) returned 18.3%, 15.7%, 14.3%, 12.9%, 9.9%, and 5.4%, respectively. Trulieve Cannabis (TCNNF) saw its stock price fall 1.0% last week. ## Major events last week * On January 3, The Green Organic Dutchman Holdings signed a royalty-bearing commercial sublicense agreement with EnWave and Tilray (TLRY). * On January 4, Curaleaf Holdings opened its fourth dispensary in New York at Carle Place, Long Island. At the facility, the company will conduct free educational programs on medical marijuana usage. * On January 4, Acreage Holdings completed the acquisition of Nature’s Way Nursery of Miami, a Florida-based cannabis company, for $67 million.
LAS VEGAS , Jan. 7, 2019 /CNW/ - Planet 13 Holdings Inc. (PLTH.CN) (PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, announced today that it served 1,430 customers per day in December with an average ticket above stated expectations. Bob Groesbeck , Co-CEO of Planet 13 said, "We are very pleased with the trajectory of customer traffic and average ticket at the Superstore, having increased our December revenue and customer counts over November in what is always a seasonally slow period for Las Vegas convention and visitor traffic. Mr. Groesbeck added, "Our TRENDI launch has also been a resounding success, with sales of our newest in-house brand reaching approximately 5% of total sales in December from a standing start in November.
Despite President Donald Trump signing the 2018 Farm Bill on December 20, which legalized hemp at the federal level, the cannabis sector was under pressure last week. The Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, fell by 11.0%, while the ETFMG Alternative Harvest ETF (MJ) declined by 11.2%.
SEATTLE, Dec. 21, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering the Las Vegas cannabis market and Planet13’s success within it. The cannabis industry is projected to reach $75 billion by 2030, according to Cowen & Co., driven by the legalization of recreational cannabis across a growing number of states. Since legalizing recreational cannabis at the beginning of the year, Nevada—and Las Vegas in particular—has consistently been breaking sales and tax revenue records, while avoiding many of the oversupply and taxation problems facing other states.
LAS VEGAS , Dec. 6, 2018 /CNW/ - Planet 13 Holdings Inc. (PLTH.CN) (PLNHF) ("Planet 13" or the "Company"), a leading vertically-integrated Nevada cannabis company, announced today that it did not receive any additional licenses in the most recent round of Nevada licensing. "Obviously, we are disappointed in the results of this round of licensing, but daily sales and average ticket at the Superstore continue to track above our internal expectations and we still have significant near and long-term growth ahead of us," said Bob Groesbeck , Co-CEO of Planet 13.