Planet 13 Hldgs Inc Stock Price, News & Analysis

Planet 13 announces a groundbreaking collaboration as Rock and Roll Hall of Famer George Clinton partners with Wiz Khalifa to launch "The FUNK" cannabis product at Planet 13 Las Vegas. The exclusive meet-and-greet event is scheduled for May 2, 2025, at 4:00 p.m.

"The FUNK" combines Motorbreath flower and Daily Grape live resin, creating a unique blend with gas, diesel, and sweet grape notes. The product will be available exclusively at Planet 13 stores, building on the success of Khalifa Kush's existing presence at the company's 112,000 square-foot Entertainment Complex.

Following the meet-and-greet, guests (21+) can visit the DAZED! Consumption Lounge. This launch reinforces Planet 13's position as a premier destination for celebrity cannabis product launches, with the Las Vegas SuperStore becoming a hub for exclusive brand showcases and artist interactions.

Planet 13 Holdings (OTCQX: PLNH) announced the grand opening of its 32nd Florida dispensary in Orange Park, scheduled for April 4-5, 2025. The new 4,680-square-foot facility, located at 921 N Blanding Blvd, will serve the Jacksonville medical cannabis community.

The dispensary is strategically positioned in front of Walmart and across from Publix on a high-traffic retail corridor with 58,000 daily passing vehicles. The location benefits from a daytime population of nearly 125,000 within a five-mile radius. The facility will operate daily from 9 a.m. to 8 p.m.

The grand opening celebrations include a ribbon-cutting ceremony with local business owners and the Clay County Chamber of Commerce, featuring a DJ, LifeSouth Blood Donation Bus, and an MMJ doctor providing medical card information.

Planet 13 Holdings has announced the grant of Restricted Stock Units (RSUs) to its officers, directors, and employees on March 31, 2025. Under the company's 2023 Equity Compensation Plan, a total of 13,776,345 RSUs were awarded, with 9,255,085 RSUs allocated to directors and officers, and 4,521,260 RSUs to employees. The RSUs will vest in three equal portions on May 16 of 2026, 2027, and 2028, subject to potential variations according to the Plan's terms.

Planet 13 Holdings (OTCQX: PLNH) announced the grand opening of its 31st Florida dispensary in Port Richey, marking its expansion in the Tampa Bay region. The new 3,465-square-foot dispensary, located at 6939 Ridge Road, will celebrate its opening on March 28-29, 2025, featuring a ribbon-cutting ceremony with the Greater Pasco Chamber of Commerce.

The strategically positioned location on Ridge Road offers high visibility and accessibility, operating daily from 9 a.m. to 8 p.m. The facility features a modern retail space designed to serve the growing medical cannabis community in one of Florida's fastest-expanding regions. The grand opening celebrations will include live DJ performances and an on-site doctor providing medical card information.

Planet 13 Holdings (OTCQX: PLNH) reported Q4 2024 financial results with revenue of $30.3 million, up 31.8% year-over-year, driven by Florida expansion. The quarter saw a net loss of $26.4 million, including an $18.9 million non-cash impairment loss, and $0 Adjusted EBITDA.

Q4 gross profit was $13.1 million with a 43.2% margin, down from 47.8% due to industry-wide price compression and Florida discounting. Full-year 2024 revenue reached $116.4 million, an 18.2% increase, with gross profit of $56.1 million and Adjusted EBITDA of $3.5 million.

The company expanded its retail footprint in Q4 2024 with new dispensary openings in Florida locations: Port Orange, Gulf Breeze, and Panama City. As of period end, Planet 13 maintained $25.4 million in cash and total assets of $206.7 million.

Planet 13 Holdings (OTCQX: PLNH), a vertically-integrated multi-state cannabis company, has scheduled the release of its Q4 and full-year 2024 financial results for March 26, 2025, after market close. The company will host a conference call on the same day at 5:00 p.m. ET to discuss the financial results and provide business highlights, strategy, and outlook updates. The call will be led by Co-CEOs Bob Groesbeck and Larry Scheffler, along with CFO Dennis Logan.

Planet 13 Holdings (OTCQX:PLNH) has announced a significant recovery of funds related to the El Capitan case. The company has secured a settlement of US$2.1 million from BridgeBank/Western Alliance Bank (WAB), bringing the total WAB fund recovery to US$5.5 million.

Additionally, through a subsidiary, Planet 13 will acquire real estate valued at approximately US$5.0 million, which it plans to sell. The total recovery amounts to US$10.5 million. The company continues its lawsuit against El Capitan Advisors and its CEO Andrew Nash, seeking approximately US$10.3 million in additional compensatory damages.

The case stems from El Capitan's misappropriation of Planet 13's funds while providing cash management services. A special-purpose receiver has been appointed to investigate and trace the stolen funds. El Capitan and Nash have not responded to the lawsuit, resulting in a default entry against them.

Planet 13 Holdings (CSE: PLTH) (OTCQX: PLNH) has announced a new partnership to co-brand, package, and produce premium cannabis products with boxing champion Mike Tyson, wrestling icon Ric Flair, and multi-platinum artist Future.

Under the agreement, Planet 13 will manufacture and distribute cannabis products under the Tyson 2.0, Ric Flair Drip, and Future's Evol brands. The company plans to initially launch these products in Nevada before expanding across all their markets.

This collaboration strengthens Planet 13's position as the national celebrity brand leader in the cannabis industry, following successful launches like Tyson Ranch and Khalifa Kush. The company is increasingly being recognized as the partner of choice for celebrities entering the cannabis space.

Planet 13 Holdings announced the opening of its Panama City dispensary on December 27, 2024, marking its 30th location in Florida and 34th nationwide. The 1,600-square-foot facility, located at 309 E 23rd Street, will operate daily from 8 a.m. to 8 p.m.

The new dispensary is strategically positioned in a high-traffic area with over 34,000 vehicles passing daily, offering convenient access to shopping, dining, and beach areas. The location was chosen for its strong consumer spending potential and visibility, furthering Planet 13's expansion strategy along Florida's Gulf Coast.