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The latest update is out from High Tide ( (TSE:HITI) ).
High Tide Inc. is expanding into the German medical cannabis market by acquiring a 51% stake in Remexian Pharma GmbH, a leading pharmaceutical company in Germany known for its importation and wholesale of medical cannabis. This strategic acquisition, valued at approximately €27.2 million, positions High Tide to leverage its Canadian procurement expertise to increase the Canadian share of medical cannabis imports into Germany. With the German medical cannabis market rapidly growing, this move is expected to significantly strengthen High Tide’s financials and establish a strong foothold in Germany, serving as a springboard into other European markets. The acquisition aligns with High Tide’s goal to provide high-quality medical cannabis at affordable prices, enhancing its industry positioning and offering growth opportunities for stakeholders.
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 reflects strong financial performance and strategic growth initiatives, particularly in its physical retail segment. However, ongoing profitability challenges and valuation concerns weigh on the score. Positive corporate events and a promising earnings call outlook provide a balanced view, supporting a moderately positive score.
To see Spark’s full report on TSE:HITI stock, click here.
More about High Tide
High Tide Inc. is a retail-focused enterprise operating in the cannabis industry, known for delivering value across various components of cannabis. The company has significant expertise in Canadian cannabis procurement and sales, having generated over $1.9 billion since legalization.
Average Trading Volume: 37,746
Technical Sentiment Signal: Hold
Current Market Cap: C$263.4M
See more insights into HITI stock on TipRanks’ Stock Analysis page.