Look at the Las Vegas Strip on a Saturday night and you’ll see the neon glow of the world’s largest dispensary. It’s a spectacle. But if you look at the planet 13 stock price on your phone, the view isn't quite as flashy.
Honestly, the cannabis sector has been a meat grinder lately. Planet 13 (PLNH) hasn't been immune to the chaos. As of mid-January 2026, the stock is hovering around the $0.19 mark. It’s a far cry from the euphoria of years past.
You’ve probably seen the headlines. One day it’s up 4%, the next it’s down 3% on "light volume." That's the hallmark of a stock waiting for a reason to move. Investors are basically holding their breath, waiting to see if the company's massive pivot away from California and toward a leaner, Florida-focused model actually pays off.
The Brutal Reality of the Q3 Low Point
Last year was rough. There’s no sugar-coating it. During the Q3 2025 earnings call, Co-CEO Larry Scheffler didn't mince words. He called it the "low point."
Revenue slid to $23.3 million, down significantly from the $32.2 million they pulled in during the same period the year before. Why? It was a perfect storm. Tourists weren't spending as much in Vegas. Price compression—basically a race to the bottom on weed prices—hit the wholesale market hard.
Then there was the $29.8 million non-cash impairment loss. That’s a fancy accounting way of saying some of their assets weren't worth what they thought they were. It resulted in a staggering net loss of **$44 million** for the quarter.
But here’s the thing that savvy traders noticed: if you strip away the one-time charges and the "cleaning of the house," the underlying gross margin was actually around 45%. That’s the "real" business. It’s the difference between a sinking ship and a ship that's just throwing old cargo overboard to go faster.
📖 Related: Reading a Crude Oil Barrel Price Chart Without Losing Your Mind
Why the Planet 13 Stock Price Might Be Misunderstood
Most people see a $0.19 stock and think "penny stock gamble." Kinda true. But Planet 13 isn't just a single shop in a strip mall.
The California Exit
They are officially bailing on California. The sale of their Orange County store is expected to close in Q1 2026. This is a massive deal for the planet 13 stock price because California was a cash burn machine.
Exiting that market is expected to improve monthly cash flow by roughly $300,000 to $350,000. In a world where every penny of liquidity matters, that’s lifeblood. They are shifting those resources to Nevada and Florida, where they actually have a fighting chance at dominance.
The Florida Expansion
While everyone was looking at Vegas, Planet 13 was quietly building a kingdom in the Sunshine State. They just opened their newest dispensary in Pace, Florida, near Pensacola, in late 2025.
They now have roughly 30 dispensaries in Florida.
The strategy there is different. It’s medical-focused for now, but they’ve been upgrading their cultivation. Potency is up. Yields are up 45%. And the "BHO lab" (Butane Hash Oil) is finally coming online. This means they can finally sell the high-margin concentrates and extracts that Florida patients actually want.
The Trump Factor and Rescheduling
You can't talk about the planet 13 stock price without talking about Washington.
👉 See also: Is US Stock Market Open Tomorrow? What to Know for the MLK Holiday Weekend
In late December 2025, President Trump signed an executive order aimed at rescheduling cannabis. The industry went wild. This isn't just about "legal weed"; it's about Section 280E.
If cannabis is rescheduled, companies like Planet 13 can finally deduct normal business expenses from their taxes. Right now, they get taxed on gross profit, which is insane. Removing 280E would be like giving the company a massive, instant cash injection without them having to sell a single extra gram of flower.
What's Happening with the Insiders?
People always tell you to "follow the smart money." Well, the smart money at Planet 13 has been selling a bit lately.
Christopher Wren, the VP of Operations, sold 30,000 shares at $0.20 in early January 2026. Co-CEO Robert Groesbeck also offloaded a significant chunk—about a million shares—back in December at $0.21.
Does this mean the ship is sinking? Not necessarily. Executives often sell for personal reasons, tax bills, or just to diversify. But it does put a "ceiling" on the stock price in the short term. It’s hard for a stock to moon when the bosses are hitting the "sell" button.
The Competitive Landscape
Planet 13 is in a weird spot. It’s too big to be a "craft" brand and too small to be a "Tier 1 MSO" (Multi-State Operator) like Curaleaf or Trulieve.
✨ Don't miss: Big Lots in Potsdam NY: What Really Happened to Our Store
They are the "Experience" brand.
The DAZED! consumption lounge in Vegas is their attempt to prove that cannabis can be a hospitality business, not just a retail one. If they can prove that tourists will pay a premium for the vibe of Planet 13, the stock becomes a much more attractive play for institutional investors.
Looking Forward: 2026 and Beyond
The next few months are pivotal. If the Q4 2025 and Q1 2026 reports show that the California exit actually fixed the margins, we could see a re-rating.
Management has been granting millions of Restricted Stock Units (RSUs) to staff. That’s a bit dilutive, sure. But it also aligns the workers' interests with the shareholders.
Actionable Insights for Investors
If you're looking at the planet 13 stock price as a potential entry point, keep these specific triggers in mind:
- Watch the 200-day Simple Moving Average (SMA): Currently, it’s around $0.22. If the stock can break and hold above that, the technical "downtrend" might finally be over.
- Monitor the Florida Lab: The launch of their concentrate line in Florida (Q1 2026) is the real catalyst for revenue growth this year.
- The 280E Clause: Any news regarding the finalization of the rescheduling rule by Attorney General Pam Bondi will move the entire sector, but Planet 13’s high-margin "experience" model stands to benefit more than most.
- Cash is King: They had about $17.2 million in cash at the last check-in. They need to show they can grow without needing to raise more capital (which would dilute you even further).
Investing in cannabis is basically a volatility sport. It's not for the faint of heart. But with the stock sitting near its 52-week lows and a major restructuring nearly finished, the risk-to-reward ratio is finally starting to look interesting again for those who believe the "Superstore" model can survive a leaner economy.
To stay ahead, you should set price alerts for the $0.23 resistance level and monitor the SEC Form 4 filings for any signs that insider selling has stopped, which often signals that management believes the "bottom" is finally in.