An announcement from High Tide ( (TSE:HITI) ) is now available.
High Tide Inc. has opened a new Canna Cabana store in Cochrane, Alberta, marking its 196th location in Canada and 85th in Alberta. This expansion is strategically positioned to serve over 8,000 residents with no nearby cannabis retail competition, enhancing High Tide’s market presence in the region. Additionally, the company is progressing in its efforts to enter the German medical cannabis market, leveraging its substantial Canadian sales history to become a major importer and distributor in Germany, which could significantly impact its international growth and stakeholder interests.
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 strategic expansion are tempered by ongoing profitability challenges and bearish technical indicators. While the earnings call reflects positive long-term growth prospects, the valuation is unattractive due to negative earnings and lack of dividends.
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 offers a range of cannabis-related products and services, including retail innovation through Fastendr, a fully automated retail kiosk technology, and a suite of e-commerce platforms for consumption accessories.
YTD Price Performance: -30.42%
Average Trading Volume: 662,794
Technical Sentiment Signal: Buy
Current Market Cap: $187.2M
See more data about HITI stock on TipRanks’ Stock Analysis page.