Instead of rushing to open a large number of dispensaries or scaling wholesale partnerships, the company is devoting its efforts to marijuana superstores.
Almost of Planet 13’s $70.5 million in sales in 2019 came from its Vegas store, and accounted for about 10% of all cannabis sold in Nevada.
Its catalog of vapes, edibles, flowers, extract, pre-rolls, tinctures, and topicals prove immensely popular among tourists from nearby resorts and casinos.
Investors expect a sharp increase in the company’s revenue this year, as its stock is trading for 8.7 times forward sales.
By the end of the year, special purpose acquisition company Mudrick Capital plans to acquire trading card and candy company Topps.
It plans to sell 1.38 million virtual cards in late April; rare cards will come with animated backgrounds or holographic effects.
This side of the business has a highly scalable model, with the potential for the company to sell its treasured cards to other countries where baseball is popular, like Japan.
The company’s revenue increased by 23% year over year to $567 million last year.