The marijuana stock market may have enjoyed an incredible rally last year. However much of that steam has slowed down over the past few months. Currently, investors need to study different marijuana stocks individually and then make a call on whether to invest in it or not to see if they found the right marijuana stock to watch. As August comes along, it is perhaps time for investors to think which marijuana stock to buy and experts believe, it is Nevada based Planet 13 Holdings (CSE:PLTH) (OTCQB:PLNHF) which could prove to be a great pot stock to buy.
About Planet 13 Stock
It is a vertically integrated cannabis company and one of the very few companies of its kind in the United States. Moreover, its operations are primarily concentrated in the United States. The 11 states in which cannabis has been legalized in the U.S. remain the most lucrative areas for any company in the industry. However, the company’s stock has underperformed because of its losses.
Is This Marijuana Stock The Right Move?
However, there are some factors that make this marijuana stock a highly attractive company. This cannabis stock aspires to become the biggest retailer of cannabis in Nevada. Currently, its megastore known as the Super Store in Las Vegas is proof of its ambitions. The influx of tourists in Las Vegas has created a steady flow of customers. When customers arrive at the Super Store, they can get a wide variety of items. In addition to that, the company introduced new products which will be available at its stores soon.
Last, since November 2018, the number of paying customers every day has increased to 2000 at the Super Store, while the average spending has risen to $10. Daily visitors have increased to 3400 and on top of that sales have also soared by 19.4% in Q2 2019. All this proves that it is a stock that could well be the winner in August.