High Tide ( (TSE:HITI) ) has shared an update.
High Tide Inc. announced the opening of a new Canna Cabana store in Cornwall, Ontario, expanding its footprint to 197 locations across Canada. This strategic expansion, supported by free cash flow and a focus on high-quality real estate, aims to capitalize on the growing demand in Cornwall’s east end, a high-traffic area with minimal competition. The company anticipates reaching its 200th store milestone by the end of May, highlighting its disciplined, demand-driven growth strategy.
Spark’s Take on TSE:HITI Stock
According to Spark, TipRanks’ AI Analyst, TSE:HITI is a Neutral.
High Tide’s strong revenue growth and operational improvements are significant positives, yet the company’s ongoing profitability challenges and bearish technical indicators weigh heavily on the overall score. Valuation metrics are unattractive due to negative earnings and lack of dividends, further impacting the score. While the earnings call reflects positive sentiment for long-term growth, the ability to turn growth into sustainable profits remains crucial for future stock performance improvement.
To see Spark’s full report on TSE:HITI stock, click here.
More about High Tide
High Tide Inc. is a leading community-grown, 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 involved in various aspects of the cannabis industry, including retail innovation, consumption accessories, CBD products, wholesale distribution, and licensing. High Tide is known for its diversified operations and has received accolades for its growth and innovation.
Average Trading Volume: 59,889
Technical Sentiment Signal: Sell
Current Market Cap: C$264.7M
For an in-depth examination of HITI stock, go to TipRanks’ Stock Analysis page.