Planet 13 Stock

Since everyone is on the new MJ stocks hype...

This one actually has great fundamentals, the balance sheet looks very neat in comparison to how most other MJ companies present themselves, it did well during Covid (transitioned to online deliveries), and a new superstore is about to open in Santa Ana in the first half of 2021.

The company is headquartered in Las Vegas (where MJ is legal) and its board of directors looks great as well, two CEOs former politicians which sounds pretty much optimal when having to deal with potential regulatory issues: planet13holdings.com/about/#team

Also still a tiny market cap (around 1B at the moment) compared to the competition in this space, it seems like an easy buy and long-term hold. With news of incoming fed legalization and possible future listing on the big exchanges it's likely to explode in the coming years.

I don't like investing in the hyped meme stocks, but as far as MJ goes Planet 13 seems just solid.

As future plans, to quote The Motley Fool:
"The company is looking to build superstores in additional high-profile U.S. cities, including San Francisco, Miami, New York, and others. If the company manages to replicate the success it has had in Las Vegas elsewhere, the sky is the limit."

What are your thoughts on this stock? It seems like the top MJ choice to me, could be something I am missing? Honestly not sure how it's still flying under the radar considering its massive potential.

Thanks for reading! Hope we can get a nice discussion going.

If we take a look at the financials of planet 13 stock. Currently trading at $6.15 high of $6.40 ish. Also listed on OTCQX.

22.8M revenues Net income 360.95K Diluted EPS 0 Net profit margin 1.58% Operating income 3.64M Net change in cash 34.04M Cash on hand 56.76M

It really only beats HITIF with the amount of capital raised. Their share structure is a little bit better too. However they had insider selling. I believe HITIF after earnings blowouts in March and April we are easily going to $3-5 maybe even higher. Discuss below.

Planet 13 stock price has gone crazy! I bought at 1.91 in June 2020 after thinking about it and watching it for a year. Today it rose 12% and closed above 5.75

My most successful single investment thus far. Visiting Vegas last year, asked the cabbie to take me to my usual dispensary, he suggested this new spot. When we arrived, he was given a vig by the doorman, ( an old strip club trick, quite effective for tourist volume). I then entered a huge bright friendly compound, with all manner of marijuana products. Clearly designed for the tourist crowd, its packed with conventioneers spending hundreds each on pot in all forms. The vibe is not 'shady' at all, and they're ringing six figures daily from ONE location.

If that counts as DD, I bought a thousand shares the next day and have done very well with it. They have aggressive expansion plans and a solid understanding of retail management.

Surely a coincidence? Market cap around $200-300m so potentially buying pressure sent it up a bit and set off momentum tools adding further buying pressure from penny stock traders. Crazy regardless that so many people buy based on what one person says, never mind a youtuber.