One of the more offbeat marijuana stocks is the small Las Vegas-based dispensary operator Planet 13 Holdings (OTC: PLNH.F) . The business is certainly colorful and, like Las Vegas, it knows how to sell itself and put on a show. Whether its action is a buy is another question, however.

Eric Volkman, veteran Motley Fool contributor and Corinne Cardina, head of the health and cannabis office, give a brief overview of the outlook for Planet 13 in this segment of Motley Fool Live registered on February 5, 2021 .

Corinne Cardine: “Interested in your thoughts on Planet 13.” Of course, this is a company that has its cannabis hypermarket in Vegas. They are planning a second hypermarket in California. Eric, what do you think of Planet 13?

Eric Volkman: It’s an intriguing little business. They have an interesting approach. They’ve got this Vegas-style hype behind them. They have a theatrical sense. it seems to me, they know how to make a splash, they know how to have an impact. Their hypermarket, they turned it into a tourist attraction, which I think is a very interesting thing.

The novelty has faded a bit now that legalization is spreading and it is not unusual in various states in the United States to have dispensaries, perhaps the bloom is a bit far from the rose. But I like their approach to the market.

The only thing about them is if you strip things past the hype and splash, they are yet another retailer and a fairly small retailer, I would be more interested in some of the other stock destined for the retailers who may have a larger footprint or are in a better position to grow. I do not think so [Planet 13 is] greatly positioned. They’re set up here on the west coast where there are many other well-established dispensary chains and some of the big companies involved in this market or coming into the market in places like Arizona.

I think it’s a colorful business, I think it’s an interesting business. I don’t think this is a particularly good stock to buy.

Corinne Cardine: I think the big story is how they weren’t crushed by the pandemic. They really pivoted to delivery and handled it pretty well. This is certainly a good sign for their management.