Planet 13 Stock Jumps 4% on Addition of New Edible Brands

Planet 13 stock

Planet 13 stock is in the green after Planet 13 Holdings (CSE:PLTH) (OTCQX:PLNHF) announced that it has added HaHa Gummies and Dreamland Chocolates to its growing in-house brand portfolio.

Planet 13 Edibles: HaHa Gummies & Dreamland Chocolates

Nevada-based vertically integrated cannabis company Planet 13 Holdings has managed to become one of the better-known brands in the space in the state, and today the company made a significant announcement. Over time the company has built up an impressive collection of brands and today it announced the addition of two new ones, namely Dreamland Chocolates and HaHa Gummies. Edibles are all set to be the next big wave in the cannabis industry, and Planet 13 is gearing up to become one of the important players in that market with its line up of brands.

The Chief Executive Officer of Planet 13, Larry Scheffler, stated that edibles have been particularly popular in the state of Nevada and have found a steady customer base among the tourists who come to the state.

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Planet 13 stock is up 3.50% and now trading at $2.12 on the OTC market. On the Canadian side, PLTH stock is up 1.50% at $2.74.

Other than these two brands, Planet 13 Holdings also manufactures TRENDI, Leaf & Vine, and Medizin. All of those are now going to be manufactured at the company’s production facility known as the Super Store in Las Vegas. The facility sprawls over an area of more than 15,000 square feet.

The company is also trying to use the popularity of its brands to improve its supply agreements and to place its products on premium shelf space in its partnering dispensaries. Planet 13 is also set to undergo an expansion of its Super Store once it gets the necessary permits. The company believes the expansion will be done by Q3 2019.

Planet 13 has been one of the few shining lights among cannabis stocks in a period when most stocks in the sector have underperformed. Back in May, Planet 13 announced that it served as many as 2,095 customers on a daily basis, with average spending of an impressive $90.63 each. In June, as many as 100,000 people visited the store, and if that continues in the same vein, then Planet 13 stock could prove to be an excellent opportunity for investors.

What do you think about the new Planet 13 edibles?

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