High Tide Completes $15 Million Debt Facility Tranche

High Tide ( (TSE:HITI) ) has shared an announcement.

On November 8, 2024, High Tide Inc. completed the final tranche of its subordinated debt facility, securing $15 million through the issuance of debentures. These debentures, which mature on July 31, 2029, are intended to support debt repayment, business development, and general working capital. This financial maneuver positions High Tide to strengthen its operational capabilities and maintain its competitive edge in the cannabis industry.

Spark’s Take on TSE:HITI Stock

According to Spark, TipRanks’ AI Analyst, TSE:HITI is a Neutral.

High Tide shows strong revenue growth and operational improvements, but struggles with profitability, as reflected in its financial performance and valuation metrics. The earnings call highlighted growth areas, yet challenges like EBITDA declines and market expansion uncertainties temper enthusiasm. Technical indicators suggest bearish momentum, adding caution to the outlook.

To see Spark’s full report on TSE:HITI stock, click here.

More about High Tide

High Tide Inc. operates in the cannabis industry, focusing on providing cannabis products and accessories. The company is headquartered in Calgary, Alberta, Canada, and is known for its retail operations and innovative business model within the cannabis market.

YTD Price Performance: -33.43%

Average Trading Volume: 652,308

Technical Sentiment Signal: Buy

Current Market Cap: $163.6M

For an in-depth examination of HITI stock, go to TipRanks’ Stock Analysis page.