Is Planet 13 a Buy as It Expands Into Illinois and Florida?

Cannabis producer Planet 13 Holdings (OTC: PLNH.F) has done a terrific job of dominating the Nevada market with its iconic SuperStore location, which is right by the Las Vegas Strip. But up until a few months ago, when it opened another location in Orange County, Calif., Nevada was its only state of operation. Now the company has plans for a couple more: Illinois and Florida.

The move into these key marijuana states will open up more growth opportunities for Planet 13, making the company less dependent on just Nevada. But the expansion comes with challenges, and there's no guarantee that the company's large SuperStore locations will do well in other markets. Do Planet 13's moves into these additional states make it a better buy, or should they be a cause for concern among investors?

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Source Fool.com