Planet 13 Holdings, Inc. is a

cannabis ''Cannabis'' () is a genus of flowering plants in the family Cannabaceae. The number of species within the genus is disputed. Three species may be recognized: '' Cannabis sativa'', '' C. indica'', and '' C. ruderalis''. Alternative ...

company based in Nevada, United States. On Nov 1, 2018, the company opened its

cannabis dispensary A cannabis shop, cannabis dispensary, or cannabis cooperative, is a location at which cannabis is sold for recreational or medical use. In the Netherlands these are called coffeeshops. In the United States they exist as an outlet for both recr ...

Las Vegas Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas ...

which became the largest cannabis dispensary in the world at 112,000 square feet. The company operates through Planet 13 Cannabis Superstore & Entertainment Complex as well other sub-brands like Medizin, Trendi, Leaf & Vine, PURC and Planet M. The product portfolio of the brands are primarily cannabis products while PURC is a

coffee Coffee is a drink prepared from roasted coffee beans. Darkly colored, bitter, and slightly acidic, coffee has a stimulating effect on humans, primarily due to its caffeine content. It is the most popular hot drink in the world. Seeds of ...

brand.

History

Planet 13 Holdings is run by its two

CEOs Kea ( el, Κέα), also known as Tzia ( el, Τζια) and in antiquity Keos ( el, Κέως, la, Ceos), is a Greek island in the Cyclades archipelago in the Aegean Sea. Kea is part of the Kea-Kythnos regional unit. Geography It is the island of ...

Bob Groesbeck and Larry Scheffler, who are both former politicians. Groesbeck served as the mayor of

Henderson Henderson may refer to: People *Henderson (surname), description of the surname, and a list of people with the surname *Clan Henderson, a Scottish clan Places Argentina *Henderson, Buenos Aires Australia *Henderson, Western Australia Canada * H ...

, 16 miles away from Las Vegas, from 1993 to 1997, and Scheffler served as a councilman for Henderson. The company has a cultivation licence in Nevada with a capacity of 950 kg per year. Along with that, it has two retail licenses to sell both medical as well as recreational cannabis.

Planet 13 Cannabis Dispensary

The company has a retail outlet near the

Las Vegas Strip The Las Vegas Strip is a stretch of Las Vegas Boulevard South in Clark County, Nevada, that is known for its concentration of resort hotels and casinos. The Strip, as it is known, is about long, and is immediately south of the Las Vegas city ...

is the largest cannabis dispensary in the world measured by square footage at 40,000. It serves an average of 3,575 customers per day. It is open 24 hours seven days a week.

Market and Expansion

The company's share price had more than doubled in one year, up to 175%. The share price has also increased up to 48% in a quarter. With a market capital of C$510 million, the company reported sales of $5.5 million in March 2019, a 64% increase from the time of opening of the dispensary in November 2018. Based on the same, the annual sales figures are expected to be around $66 million as estimated by

Seeking Alpha Seeking Alpha is a crowd-sourced content service for financial markets. Articles and research covers a broad range of stocks, asset classes, exchange-traded funds (ETFs), and investment strategies. Unlike other equity research platforms, insight ...

. The company stock performed well in 2019 with a reported 113% gain until April 2019. On July 1st 2021, Planet 13 opened a 40,000-square-foot store in Santa Ana, Calif., just 10 minutes from Disneyland.

References

{{Reflist Medicinal use of cannabis Cannabis companies of the United States Health care companies based in Nevada Cannabis dispensaries in the United States Recreational drug tourism