Planet 13 Holdings Inc (OTCMKTS: PLNHF) Pathway To New Highs

Shares of Planet 13 Holdings Inc (OTCMKTS: PLNHF) have finally cleared the $1.75 resistance mark that we've been watching since January. The stock finally broke through on Monday and now PLNHF has a pathway towards its 52-week high of $2.66 a share. As we continue our coverage on PLNHF, there's a lot we here at Insider Financial like with Planet 13 Holdings Inc. PLNHF Daily ChartPlanet 13 Holdings BackgroundFirst up, a little background info for those that are not familiar with the company. Planet 13 Holdings Inc is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas - the entertainment capital of the world. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and a creator of innovative cannabis products. Planet 13's shares trade on the Canadian Stock Exchange (CSE) under the symbol PLTH and OTCQB under the symbol PLNHF.Mike Tyson dealLast month, Planet 13 signed a deal with Mike Tyson's cannabis venture, Tyson Ranch, to be the exclusive launch partner of Tyson Ranch products in Nevada. The Agreement also includes marketing appearances by 'Iron Mike' at the Planet 13 Cannabis Entertainment Complex. Tyson Ranch products will be available on Superstore shelves on April 13^th with Mike Tyson attending the launch, offering autographs, pictures, and raffling memorabilia and prizes for Planet 13 customers.Tyson Ranch consists of a team with over 100+ years of industry experience with deep love, respect, and appreciation for the plant. Tyson Ranch focuses on quality and exotic genetics to ensure quality and premium cannabis products. All Tyson Ranch products are indoor cultivated, hand trimmed, and 100% pesticide free.New Production FacilityPlanet 13 is constructing a 14,000 sq. ft. production facility, co-located with the Planet 13 Cannabis Entertainment Complex at 2548 W Desert Inn Rd, Las Vegas. The Production Facility will enable Planet 13 to meet the rapidly growing demand for its TRENDI concentrate and vape lines, which it launched in November. It will also be used to address the overwhelming demand for Planet 13's Medizin line and to launch additional brands and product lines.The Production Facility will offer an immersive experience to customers, featuring 115 feet of windows where visitors can watch and learn what goes into the creation of individual products. Interactive kiosks will be available near the production viewing area to teach customers what goes into making their favorite product, offering Planet 13 a powerful branding opportunity.The highly automated Production Facility will utilize robotics to lower costs and will be capable of processing 600 lbs of plant biomass per day once in full production, a throughput increase of approximately 1,300% from Planet 13's current production facility. The expansion will allow Planet 13 to create new brands and product lines and expand the existing TRENDI and Medizin product lines both for the SuperStore and for wholesale.The Production Facility is expected to be completed in Q3 2019. The entire Phase II expansion is expected to cost approximately US$6 million.By the numbersThe Company has served 1,712 customers on average per day during the first 26 days of February, at an average ticket of US$89.33. Actual foot traffic, including customers that did not make a purchase, has averaged 2,465 people per day since January 1^st, a powerful branding and product visibility opportunity to introduce products to Planet 13's globally diverse tourist customer.Bottom LineCurrently trading with a market cap of $230 million, PLNHF is an exciting story among cannabis stocks. The company has one of the top cannabis Superstores in the U.S. with its prime location on the Las Vegas strip. With its new partnership with Iron Mike Tyson and new production facility, Planet 13 looks to be one of the top plays for cannabis investors. We expect the stock to keep climbing now that it has broken through resistance.We will be updating our subscribers as soon as we know more. For the latest updates on PLNHF, sign up below!Disclosure: We have no position in PLNHF and have not been compensated for this article.Image courtesy of Pexels