TCNNF - Weed Galaxy Watch: Analysis Of Planet 13's Stock Potential Vision Amid $22M Cash Adjustment | Benzinga
A $22 million cash adjustment and a delayed Florida VidaCann deal for Planet 13 Holdings Inc. (OTC: PLNH) are key points in Pablo Zuanic's latest report from Zuanic & Associates.
Despite these setbacks, the company's management remained optimistic, backed by expansions in Las Vegas and Illinois, and a significant foothold in the Florida market.
The report noted Planet 13 Holdings' stock trades at a discount compared to the sector average, offering a unique investment opportunity.
"PLNH still has one the strongest balance sheets in the space,” Zuanic wrote. "The stock has gone from trading in line with the MSO group average to a discount (1.6x proforma vs. 2.2x for the MSO average; almost a 30% discount), and it is down 10% since 11/17/23 vs. +36% for the MSOS ETF in that time.”
Florida Expansion And Market Dynamics
The VidaCann acquisition is a pivotal move for Planet 13 Holdings, with the deal expected to close by April 1, 2024. This strategic expansion into Florida positions Planet 13 Holdings to capitalize on the ...