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High Tide Expands with New Canna Cabana Store in Alberta

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High Tide Expands with New Canna Cabana Store in Alberta

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High Tide ( (TSE:HITI) ) has provided an update.

High Tide Inc. has opened a new Canna Cabana retail store in Drayton Valley, Alberta, marking its 203rd location in Canada. This expansion is part of High Tide’s strategy to deepen its presence in high-demand markets, with the Drayton Valley store strategically positioned to capitalize on the area’s growing economy. The company also announced the grant of stock options to employees, reflecting its commitment to growth and employee engagement.

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 strong revenue growth and operational efficiency improvements are significant positives, supported by strategic expansions and investments. However, ongoing profitability challenges, mixed technical signals, and high-risk valuation dampen the overall score.

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 with diversified operations across all components of cannabis. It operates the second-largest cannabis retail brand globally, Canna Cabana, and is known for its innovative retail solutions, including automated kiosks and a wide range of consumption accessories. High Tide also engages in CBD product distribution and licensing under various brand names, maintaining a strong presence in both retail and wholesale markets.

Average Trading Volume: 33,693

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$239.9M

For a thorough assessment of HITI stock, go to TipRanks’ Stock Analysis page.

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