Planet 13 Holdings Inc (PLNH)

[Bed Bath & Beyonce]

The news of two Canadian cannabis growers issuing some really bad news is killing the sector today, including Planet.

This additional weight on the sector is going to test Planet’s $1.65 support level. It held today when the PLNHF SP dipped to $1.63 and popped back up to $1.66.

If the $1.65 support breaks, next support for PLNHF is of moderate level around $1.31. If that breaks, it’ll be a fast-track to 90 cents.

A lot of companies will be reporting in the next four weeks. They are completely out of Planet’s, well, orbit....but will weigh down the entire sector, and the PLNHF SP will probably be dragged down as well.