Please ensure Javascript is enabled for purposes of website accessibility

Planet 13's Superstore to Sell Mike Tyson's "Undisputed 87" Brand of Cannabis Products in Exclusive Agreement

By David Jagielski - Updated Feb 26, 2020 at 2:41PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It's not the first time Iron Mike has partnered with the Las Vegas-based cannabis company.

Mike Tyson has launched a premium brand of cannabis products called "Undisputed 87," which he'll sell exclusively at Planet 13 (PLNH.F -1.24%) at its Superstore location in Las Vegas. The former heavyweight champ's connection to the city goes back decades, with many of his important fights having happened in Las Vegas. The number 87 refers to his win of the Undisputed Heavyweight Boxing Champion crown in Las Vegas in 1987, after which he held three heavyweight titles simultaneously. 

Tyson currently owns Tyson Holistic Holdings, which launched in 2016. The business includes a cannabis ranch in California where he grows marijuana, and there are plans to build an entire cannabis resort, which when completed could include a hotel, festival venue, and even a university dedicated to growing cannabis. 

Planet 13 has been home to Tyson's products in the past, and the company is excited about his newest brand. David Farris, Planet 13's vice president of sales and marketing, stated in a press release that "[w]e've been supporters of Mike Tyson for a long time. We launched Tyson Ranch as a Superstore exclusive in March 2019 and it quickly became one of the top selling pre-rolls in Nevada." 

Las Vegas welcome sign.

Image source: Getty Images.

Planet 13's been dominating the Nevada market

In 2019, Planet 13 accounted for more than 9% of Nevada's total pot sales. The state has been one of the hottest markets for pot in the entire country, with monthly taxable sales averaging about $60 million. 

Planet 13 reported revenue of $16.7 million in its third-quarter results released back in November; it was also was able to hit breakeven before taxes. 

Over the past year, shares of the pot stock are up 23% and have outperformed the Horizons Marijuana Life Sciences ETF, which is down more than 60%.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Planet 13 Holdings Inc. Stock Quote
Planet 13 Holdings Inc.
$1.26 (-1.24%) $0.02

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 06/25/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.