Is Planet 13 (OTCMKTS:PLNHF) A Good Buy Or Sell After The Recent News
5:19 pm Friday, August 13th, 2021
Anyone who is currently looking into the cannabis sector might know that over the course of the past 12 months, the cannabis-producing company Planet 13 (OTCMKTS:PLNHF) has grown in popularity among investors in a big way.
The stock has been one of the better performers in the cannabis sector over that period and managed to generate gains of as much as 110%. Hence, it is a stock that is likely going to be on the radars of many investors. That being said, it is also important to keep in mind that the Planet 13 stock is not without its fair share of associated risks and there are experts who believe that the son to be announced financial report could prove to be a make or break event for the stock.
The company is best known for its SuperStore in Las Vegas and it has proven to be a massive success. The sales from the cannabis SuperStore have continued to be strong and in July, Planet 13 managed to hit another record as it recorded monthly sales of $11.9 million.
The company opened another SuperStore in Santa Ana in California in July and that store produced sales of $800,000 for the month. While there is not going to be any further addition to the revenues from that location, investors are almost certainly going to keep a closer eye on any updates regarding the Santa Ana store. For the company to justify its share price it will need to display that its business model can generate growth and hence, the importance of the Santa Ana store is quite high.
