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High Tide ( (TSE:HITI) ) just unveiled an update.
High Tide Inc. announced the opening of two new Canna Cabana retail locations in Winnipeg and Toronto, expanding its footprint to 202 stores across Canada. The Winnipeg store, located in a high-traffic area with limited competition, and the Toronto store, situated in a bustling mixed-use mall, are expected to enhance the company’s market presence in these high-potential provinces. The expansion aligns with High Tide’s strategy to reinvest cash flows into growth, leveraging its successful discount club model and loyalty ecosystem. The company’s CEO highlighted the support from Manitoba’s government in maintaining a responsible cannabis retail environment.
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 overall stock score is driven by its strong revenue growth and improving operational efficiencies, as highlighted in the financial performance and earnings call analysis. However, the company’s ongoing challenges in achieving profitability and weak technical indicators weigh down the score. Valuation concerns, reflected in a negative P/E ratio, further impact the overall assessment.
To see Spark’s full report on TSE:HITI stock, click here.
More about High Tide
High Tide, Inc. is a leading retail-forward cannabis enterprise, recognized as the second-largest cannabis retailer globally by store count. The company operates the largest cannabis retail chain in Canada, Canna Cabana, and is known for its innovative retail solutions, including automated kiosks and a suite of e-commerce platforms for consumption accessories. High Tide also engages in CBD product cultivation and wholesale distribution, and has been acknowledged as one of Canada’s Top Growing Companies.
Average Trading Volume: 42,005
Technical Sentiment Signal: Sell
Current Market Cap: C$243.1M
See more insights into HITI stock on TipRanks’ Stock Analysis page.