Streetbeat News

HITI

High Tide Inc.

https://www.hightideinc.com

Industry

Medical - Pharmaceuticals

High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs, manufactures, and distributes smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. In addition, the company provides data analytics services, as well as operates Grasscity.com and CBDcity.com platforms. As of August 4, 2022, it operated 139 retail locations in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan. The company was formerly known as High Tide Ventures Inc. and changed its name to High Tide Inc. in October 2018. High Tide Inc. was founded in 2009 and is headquartered in Calgary, Canada.

Open

2.29

Mkt cap

191M

Volume

618K

High

2.40

P/E Ratio

-78.67

52-wk high

3.62

Low

2.27

Div yield

N/A

52-wk low

1.56

At the recent Benzinga Cannabis Capital Conference, industry leaders emphasized the importance of data in understanding consumers and driving business growth in the cannabis sector. Sarah Kabakoff, VP of business development at Dutchie, and Mike Weinberger, CEO of Item 9 Labs Corp. (OTCPK: INLB), highlighted the need for businesses to utilize their data efficiently. The panel also included Wendy Berger, board member of Green Thumb Industries Inc (OTCQX:GTBIF), and Raj Grover, founder, president & CEO of High Tide Inc (NASDAQ:HITI).

Portfolio Pulse from Joana Scopel

August 11, 2023 | 5:57 pm

Trulieve Cannabis Corp. and AYR Wellness, Inc. are expanding their retail footprint in Florida, with Trulieve opening a new store and relocating a medical dispensary, and AYR opening three new retail locations. Symple Seeds opened a new fulfillment center in South Florida. In New Jersey, Goldfinch Dispensary and Discofries cannabis cultivation are preparing to open, and Justice Cannabis Co. has launched medical cannabis sales. High Tide Inc. launched recreational marijuana sales at a new store in Ontario, Canada. Green Thumb Industries Inc. launched cannabis sales at a new store in Las Vegas. Quality Roots opened a new cannabis dispensary in Michigan, and a new medical cannabis dispensary opened in South Dakota.

Portfolio Pulse from Jelena Martinovic

August 04, 2023 | 1:25 pm

High Tide Inc. (NASDAQ:HITI) announced the opening of its 154th Canna Cabana retail cannabis store in St. Thomas, Ontario, marking its 50th location in the province. The new store will begin selling recreational cannabis products and consumption accessories for adult use on July 30. The company plans to use the location as a pilot for a potential new concept that heavily focuses on its proprietary Fastendr retail kiosk technology. High Tide aims to achieve positive free cash flow by the end of the year.

Portfolio Pulse from Vuk Zdinjak

July 28, 2023 | 2:57 pm

The Canadian cannabis market has shown steady growth, but underperforms the U.S. market. Only three out of the 17 Canadian companies reviewed showed positive operating cash flow (OCF) in 2022, including Decibel (OTC:DBCCF), High Tide (NASDAQ:HITI) and Rubicon (OTC:ROMJF). Companies with high net debt-to-sales ratios such as Auxly (OTC:CBWTF), Canopy Growth (NASDAQ:CGC), and HEXO Corp. (NASDAQ:HEXO) could face challenges if cash flow trends don't improve.

Portfolio Pulse from Nicolás Jose Rodriguez

July 27, 2023 | 1:05 pm

The article discusses the valuation and credit of eighteen U.S. and Canadian cannabis companies with market caps between $20M and $100M. Five of the top-ranked companies by credit quality are Canadian. Avant Brands (OTC:AVTBF), Rubicon Organics (OTC:ROMJF), High Tide (NASDAQ:HITI), and Decibel Cannabis (OTC:DBCCF) are highlighted for their credit quality, liquidity, and leverage. The article suggests that these companies may be good investment opportunities.

Portfolio Pulse from Viridian Capital Advisors

July 24, 2023 | 4:44 pm

High Tide has filed a prospectus for a mixed shelf of up to C$100 million.

Portfolio Pulse from Charles Gross

July 21, 2023 | 10:17 am

The article reports on recent leadership changes in the US cannabis industry. The Cannabis Regulators Association (CANNRA) has announced new leadership and expanded membership. Maryland Governor Wes Moore has made key appointments to two new cannabis-related agencies. Minnesota is preparing for marijuana legalization with the appointment of a new director for its regulatory agency. The Arkansas Medical Marijuana Commission has a new member. There have been board changes at Decibel Cannabis Company, High Tide Inc., Cresco Labs, Glass House Brands, and Craftport Cannabis Corp. Scotts Miracle-Gro Company has appointed a new board member. Unrivaled Brands, iAnthus Capital Holdings, PharmaCielo, and MedMen Enterprises have also made key appointments.

Portfolio Pulse from Jelena Martinovic

July 19, 2023 | 1:29 pm

Canaccord Genuity analyst Matt Bottomley has initiated coverage on High Tide (TSXV:HITI) with a Buy rating and a price target of C$4.

Portfolio Pulse from richadhand@benzinga.com

July 12, 2023 | 2:19 pm

Organigram Holdings (NASDAQ:OGI) plans to consolidate its shares on a 4-to-1 basis to maintain its NASDAQ listing, reduce volatility, and attract institutional investors. The company faces potential delisting due to falling below NASDAQ's minimum bid price requirement.

Portfolio Pulse from Nicolás Jose Rodriguez

June 21, 2023 | 9:04 pm

High Tide (NASDAQ:HITI) reported record-breaking Q2 2023 revenue of $118.1 million, marking its third consecutive quarter of exceptional performance. The company also reported an impressive EBITDA of $6.6 million and a revenue run rate of over $500 million.

Portfolio Pulse from Nicolás Jose Rodriguez

June 14, 2023 | 8:18 pm

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