Cannabis Stock Pick for 2020, Planet 13, Announces Brand Momentum
Our analysts have already done the research and review on Planet 13 (OTCMKTS: PLNHF) and believe it to be one of the best buy-and-hold cannabis stock picks for 2020.
Stock investments in the public cannabis sector can be quite confusing and we here at Cannin understand that it’s difficult to determine the right cannabis investment (unless you’re using a predictive stock algorithm, that is). This is why our analysts put in the work to review a company’s fundamentals, be it finances, brand strength, or worldwide footprint. Our analysts have reviewed all the specifics. Investors who haven’t yet invested in cannabis stocks can do so with confidence that our analysts have done a review that covers the entire spectrum of a cannabis company’s operation. “Cannabis darlings”, often dominating the headlines, such as Canopy Growth Corp. (NYSE: CGC) and Aurora Cannabis (NYSE: ACB), often overshadow cannabis companies that are smaller, but still offer a considerable amount of value and opportunities for growth. But why is Planet 13 one of the best buy-and-hold cannabis stock picks?
Out of all the possible choices to make when considering cannabis investing opportunities, our analysts have identified that Planet 13 is one of the best cannabis stocks to watch in 2020. The company has the world’s largest cannabis dispensary and entertainment complex in Las Vegas, Nevada and it just announced today that its branded products have gained considerable momentum.
Featured Cannabis Stock Pick for 2020: Planet 13
Planet 13, as mentioned earlier, holds the world’s largest cannabis dispensary and entertainment complex called the Planet 13 Superstore. We recommended Planet 13 earlier based on its financial improvements, debt reduction, new automated facility, strategic partnerships, and record revenue, and now it has announced momentum with its branded products. But what does the momentum have to do with the stock being a cannabis stock pick for 2020?
The company has a line of several cannabis brands that gained momentum and they are as follows: HaHa Gummies, Dreamland Chocolates, TRENDI, Leaf & Vine, and Medizin. Planet 13 announced in a press release today that these brands set a combined record of $1 million in sales for the month of February alone. A portfolio of specifically targeted brands that address the forms of consumption that are most popular with consumers led Planet 13 to this record-setting conclusion.
Larry Scheffler, Co-CEO of Planet 13, stated: “Our customers have a unique connection to our products, they watch as Dreamland Chocolates are poured in front of them, as Haha Gummies are molded. Customers understand that our products are made with absolute attention to detail by people who share the same enthusiasm for cannabis as they do. This unique experience combined with our award-winning packaging1, and a product that meets the brand promise of a great tasting uplifting experience results in a product that flies off the shelf.”
Planet 13 also announced that it has started to wholesale its brands to select cannabis dispensaries in the city of Las Vegas. Throughout the entirety of Q1 and Q2 of 2020, the company will roll out the five record-setting brands to cannabis dispensaries in Nevada.
Bob Groesbeck, Co-CEO of Planet 13, stated: “We opened our customer-facing production facility on November 1, 2019. Since then we’ve been steadily ramping up capacity to supply the SuperStore and to enter the wholesale market. We are launching initially with a select few dispensaries to ensure we can meet customer demand, have efficient delivery and distribution in place to cement ourselves as a trusted supplier in Nevada before we roll out our products statewide.”
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