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2020 was a great year but i think we're about to enjoy one of the most historic years for one of my favorite sectors and even better there are plenty of opportunities for investors to score big and it'll only cost them less than 10 bucks hi i'm matthew carr chief trend strategist for the oxford club thank you for watching this episode of market trends well it almost feels eminent at this point over the past two years the democrat-controlled house of representatives made history by passing not one but two pro-cannabis pieces of legislation the safe banking act in 2019 and the moore act in 2020. unfortunately both of those were stonewalled in the senate of course now fortunes have changed now that democrats control the senate we're likely in store for a change at the federal level in fact senate majority leader chuck schumer has stated the senate will be introducing reform legislation very soon on top of this i also said i expected another half dozen states to debate cannabis legalization this year already one of those virginia has passed adult use bills one from each chamber now those differences still need to be hammered out but what we have is the 16th state to legalize adult use as well as the first state in the south to allow recreational use all of this has sent shares of both american and canadian cannabis companies spiking higher the north american marijuana index is up 159 percent since november third and has gained more than 91 percent just this year shares of many cannabis companies on both sides of the border are at 52-week or all-time highs well today i want to talk about one of my favorite cannabis companies and the upside potential i believe shares have in the year ahead because we are returning back to normal planet 13 is a u.s multi-state operator that owns my favorite dispensary in the country the superstore in las vegas the company's co-ceo bob grosbeck has graciously sat down with me a number of times over the years and at the end of 2019 i even went out to the superstore and filmed a short documentary on the american cannabis market and why i thought planet 13 was uniquely positioned to profit planet 13's approach is unlike anyone else's in the industry some companies like cura leaf are striving to be everywhere to be the starbucks of cannabis and that's great well planet 13 is more experiential trying to be like the dave and busters its superstore concept isn't just about going in and picking up some pre-rolls or vape pens and then walking out it's about spending time and ultimately more money at its complexes and las vegas was the perfect market to launch this vision in when you go to las vegas this is one of the areas that you want to see you're attending the mj biz conference in november there is always a caravan that heads over to see the superstore but now planet 13 is expanding its footprint into california with its orange county superstore expected to be completed by mid-year this will be the second largest dispensary in the world behind its las vegas superstore and the company will continue to spread this idea across the country so how is this working out for planet 13 well in the third quarter the mso reported revenue increased 36 percent to 22.8 million but keep in mind that was with the las vegas superstore at only 50 capacity las vegas sees roughly 45 million tours per year and the superstore like i said is a place everyone has to go and see but because of kovud19 tourism was down steeply last year but beyond improving sales above pre-covered 19 levels the company's in-house brands in the third quarter like trendy contributed 25 to revenue to me these are actually very exciting stats i know they're not as explosive as some of the other american msos they're reporting 200 or 100 increases in sales but i think 2021 is when planet 13's growth really starts to accelerate right now we have the vaccine rollout underway and hopefully enough will be distributed for the summer travel season so for the year ahead planet 13's revenue right now is projected to almost double to 141.88 million dollars with a profit of nine cents per share that to me is also a great indicator because that's a tremendous turnaround from the two cent loss that it's projected to report uh for when the books are closed on 2020. so far this year planet 13 shares are up roughly 35 but they still only trade for around eight dollars it's much cheaper than some of the other larger msos or even any of the canadian licensed producers yet planet 13 has never been in a stronger position than it is now with the las vegas superstar hopefully picking up speed the opening of its new medicine dispensary and the upcoming orange county superstore opening somewhere around mid-year plus we have a return to normal in terms of tourism which is going to provide a fantastic tailwind for sales so this is why i really like planet 13 at these levels and i think is poised to have a fantastic 2021. well i'm matthew carr chief trend strategist for the oxford club and thank you for watching this episode of market trends for more information like this be sure to go down to the description and sign up for my free e-letter until next time here's the high returns