Planet 13 sees Nevada adult-use cannabis market share climb to about 10% | 2020-06-03 | Investing News

Click to enlargePlanet 13 Holdings Inc. (CSE.PLTH), operators of the largest cannabis retail store in the world, reported late Monday first-quarter revenue of USD$16.8 million while booking a net loss of US$1.4 million.

The company said in a statement that revenue rose by about 21.4 percent from the same quarter a year earlier but was impacted by the COVID-19 pandemic. The company also announced that its Las Vegas “SuperStore” had accounted for about 10 percent of all recreational cannabis sales in Nevada, while it has seen some success with its new delivery model.

Beacon Research said in a report that Planet 13 was set for a new daily customer record in March before the pandemic set in, and could foresee significant market share gains if it can capture some of the Las Vegas tourism revenue once it returns later this week.

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