High Tide Expands Canna Cabana Presence with New Ontario Locations

The latest update is out from High Tide ( (TSE:HITI) ).

High Tide Inc. is set to expand its Canna Cabana retail presence in Ontario with two new store openings in Burlington and London, increasing its total to 207 locations across Canada. These strategic openings are part of High Tide’s efforts to strengthen its national footprint and position itself as a global cannabis leader, with the Burlington store benefiting from a prime commercial location and the London store poised to capture growth in a developing high-income neighborhood.

The most recent analyst rating on (TSE:HITI) stock is a Hold 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 strong financial performance and positive earnings call sentiment, highlighting growth in retail expansion and market share. However, the technical indicators suggest the stock may be overbought, and the negative P/E ratio reflects ongoing profitability challenges.

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 focused on maximizing the value of cannabis. It operates the largest cannabis retail chain in Canada, Canna Cabana, with 207 locations, and is known for its retail innovation through technologies like Fastendr. High Tide also manages a suite of e-commerce platforms for consumption accessories and offers a range of brands and CBD products. The company is recognized for its growth and industry leadership.

Average Trading Volume: 57,682

Technical Sentiment Signal: Buy

Current Market Cap: C$391.4M

For detailed information about HITI stock, go to TipRanks’ Stock Analysis page.