Las Vegas is known for many things, but the city’s renowned cannabis culture is one of the city’s most notable legacies. If you’re visiting the city, you’re probably looking for a place to buy some cannabis, so you should definitely check out the city’s largest cannabis superstore, the Vegas-COVID dispensary.
Play the Vegas-COVID Recovery with this Cannabis Superstore. Welcome to the thirteenth edition of the Vegas-COVID Recovery! The Vegas-COVID Recovery is a 12-week instructional program designed to help you play the Vegas-COVID Recovery system. The Vegas-COVID Recovery system is designed to help you play the game of golf, and learn how to win at golf. With this instructional program you’ll learn how to: 1. Recover from your golf swing. 2. Golf better. 3. Keep your swing steady and consistent, so you can set up for the golf shot. 4.The US economy continues to recover from the COVID shutdown – and nowhere is that more evident than in Las Vegas. Las Vegas has seen a surge in visitors lately as consumers regain confidence and emergency measures are lifted. The Las Vegas economy should continue to recover in the coming weeks and months. The casinos are now at 100% capacity, which should bring millions of new tourists to Sin City in the second half of the year. The Las Vegas acquisition is a big win for one of the largest cannabis companies in the United States. With tourists returning to Las Vegas, I expect revenues from this market leader to increase significantly in the second half of 2021, which I believe will have a positive effect on the company’s stock price.
Las Vegas cannabis stocks poised to benefit fromrally
Planet 13 Holdings (CSE: PLTH, OTC: PLNHF) is one of the largest cannabis companies in the United States, with a market value of $1.3 billion. Planet 13 is headquartered in Las Vegas, Nevada. Planet 13 already has a strong presence in Vegas. This includes a manufacturing complex, a processing plant and two retail pharmacies. One of these 112,000 square foot dispensaries is the largest cannabis store in the United States. This is the closest pharmacy to the famous Las Vegas Strip. Image from Planet 13 website Although the COVID restrictions have hurt the Las Vegas economy, Planet 13 is still experiencing incredible revenue growth. The latest first quarter results, released in May, showed a significant increase in sales compared to the previous year.
- Revenue was $23.8 million, up from $16.8 million, an increase of 41.8%.
- Gross margin before organic adjustments was $12.8 million or 53.8%, compared to $9.0 million or 53.9%.
- Earnings before taxes of $3.0 million, compared to earnings of $0.3 million.
- Net income of $0.4 million compares to a net loss of $1.4 million.
- Adjusted EBITDA was $5.2 million, compared to adjusted EBITDA of $2.4 million.
Planet 13 is in constant evolution. The company is investing tens of millions of dollars to expand into other states. Planet 13, for example, has built another 55,000-square-foot supermarket in Santa Ana, which is scheduled to open in early July. Here are some details from the press release. Planet 13’s SuperStore OC, located at 3400 West Warner Ave Santa Ana, California, is planned as a 55,000 square foot consumer center, of which 16,500 square feet will be dedicated to pharmaceutical retail. The other parts of the complex, which will be built as part of phases 2 and 3, will feature souvenir sales, a restaurant and a cannabis lounge with additional experiences. When all three phases are operational, P13 OC will be the largest dispensary complex in California.
Planet 13 shares seem to be rising on thechart
In 2020, Planet 13 shares rebounded sharply as the cannabis sector recovered from the fall of COVID. At 2021, the stock has consolidated just below its recent 52-week high. This is a bullish signal that often leads to a breakout and a new 52-week high. Planet 13 Holdings 12-monthchart (CSE: PLTH, OTC: PLNHF)
Big Picture Las Vegas and Planet 13
Las Vegas is recovering from the COVID recession and setting the stage for a strong recovery in the second half of 2021. This is good news for Planet 13 and its Las Vegas supermarket. Planet 13 is expected to benefit from an increase in customer traffic in the second half of 2021, which should give PLNHF shares a strong boost on the chart.
About the author and cannabis stock trading
Michael Wodicka is an equity analyst with over 20 years of trading and investment experience. His research has received attention in some of the industry’s most respected publications. He has been investing and managing investors in the cannabis sector since 2013. Mr. Vodicka offers his experience and advice to Cannabis Stock Trades members. Sign up for Cannabis Stock Trades and receive exclusive analysis from Mr. Water, trade alerts and a sample portfolio.
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