High Tide Expands Canna Cabana Footprint with New Stores in Ontario and Alberta

An update from High Tide ( (TSE:HITI) ) is now available.

High Tide Inc. has announced the opening of two new Canna Cabana retail cannabis stores in Brantford, Ontario, and Calgary, Alberta, increasing its total store count to 199 across Canada. The Brantford location is strategically positioned in a busy shopping plaza with national co-tenants, while the Calgary store benefits from a lack of nearby competition, offering strong market capture potential. These openings align with High Tide’s strategy to expand its physical presence in promising markets, as the company nears the milestone of 200 locations nationwide.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Spark’s Take on TSE:HITI Stock

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

High Tide’s stock score reflects its strong revenue growth and strategic expansion efforts, tempered by ongoing profitability challenges and unattractive valuation metrics. The company demonstrates potential for long-term growth, but its ability to turn growth into sustainable profits remains crucial. Technical indicators suggest caution, while recent earnings call and corporate events provide a positive outlook for future expansion.

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

More about High Tide

High Tide, Inc. is a leading cannabis enterprise known for its retail-forward approach, being the second-largest cannabis retailer globally by store count. The company operates the largest cannabis retail chain in Canada, Canna Cabana, with 199 locations. High Tide is diversified across various components of cannabis, including retail innovation, consumption accessories, CBD products, wholesale distribution, and licensing.

Average Trading Volume: 60,085

Technical Sentiment Signal: Sell

Current Market Cap: C$269.5M

Learn more about HITI stock on TipRanks’ Stock Analysis page.