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

High Tide Inc. (NASDAQ:HITI) is expanding its international brand portfolio by acquiring the Queen of Bud brand, including all IP and trademarks. The deal, valued at $1 million, includes a cash payment and common shares of High Tide. Queen of Bud's founder, Ashley Newman, will become a global brand ambassador. This acquisition adds to High Tide's extensive brand roster and is expected to deliver significant value to shareholders.

Portfolio Pulse from Jelena Martinovic

March 15, 2024 | 2:05 pm

High Tide Inc. (NASDAQ:HITI) is set to acquire the Canadian cannabis brand Queen of Bud for $1M, expanding its international brand portfolio. The deal includes all IP and trademarks of Queen of Bud, with its founder becoming a global brand ambassador. The transaction, pending TSX Venture Exchange approval, involves a $100,000 cash payment and the remainder in High Tide Shares, based on a 10-day volume weighted average price.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:05 am

Earnings reports for March 15, 2024, include a mix of expected quarterly losses and gains across various sectors. Notable companies like EHang Holdings, NeoGenomics, and Jabil are among those scheduled to report. The forecasts range from losses in sectors like technology and healthcare to gains in consumer goods and services.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 9:15 am

High Tide (NASDAQ:HITI) is scheduled to release its quarterly earnings report on March 15, 2024, with an estimated EPS of $-0.01. Analysts and investors are keen on not just the earnings beat or miss but also the company's guidance for future growth. Historically, High Tide's share price has shown volatility post-earnings announcement, with a notable 3.63% drop after last quarter's beat. The stock has seen a 42.24% increase over the last 52 weeks, trading at $1.7 as of March 13.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 3:01 pm

Following Germany's decision to legalize limited cannabis possession, U.S. and Canadian cannabis stocks like Curaleaf Holdings, Trulieve Cannabis Corp., Green Thumb Industries, Cresco Labs, Tilray, and Aurora Cannabis saw movements in their stock prices. Analysts predict significant growth potential in the German market, comparing it to Florida's medical cannabis market. Companies like Tilray and Aurora Cannabis, already established in Germany, are well-positioned to benefit. Curaleaf's affiliate owns a German importer, and High Tide Inc. expressed enthusiasm about entering the German market.

Portfolio Pulse from Maureen Meehan

February 26, 2024 | 9:13 pm

High Tide Inc. (HITI) has signed an agreement with the Manitoba Liquor and Lotteries Corporation to distribute cannabis products in Manitoba through its subsidiary Valiant Distribution Canada. This deal enhances High Tide's distribution capabilities in Canada, adding to its presence in Saskatchewan, the United States, and Europe. High Tide, recognized by ATB Capital Markets as one of the top cannabis retailers in North America, continues to expand its footprint. The company's strategic expansion and positive financial indicators, such as generating positive free cash flow and trading at low multiples, position it as a leader in the cannabis retail sector.

Portfolio Pulse from Jelena Martinovic

February 14, 2024 | 7:02 pm

High Tide Inc. (HITI) has entered into a distribution agreement with the Manitoba Liquor and Lotteries Corporation to distribute cannabis products to retailers in Manitoba. This expands High Tide's distribution network, leveraging its existing infrastructure and experience in cannabis product distribution in Saskatchewan, the United States, and Europe.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:01 pm

High Tide Inc. (NASDAQ:HITI) reported a 37% year-over-year revenue growth for 2023, with total revenue reaching CA$487.7 million. The company also saw a 40% quarter-over-quarter increase in free cash flow in Q4, and a reduction in net loss from CA$52.5 million in Q4 2022 to CA$31.8 million in Q4 2023. Adjusted EBITDA for the year was up 110% compared to 2022. After the announcement, HITI shares traded 2.59% higher at $1.98 per share after hours.

Portfolio Pulse from Jelena Martinovic

January 30, 2024 | 2:13 pm

High Tide (NASDAQ:HITI) reported Q4 earnings with an EPS of $0.03, surpassing the estimated EPS of $-0.03 by 200%. Revenue increased by $12.25 million compared to the same period last year. Despite missing EPS estimates last quarter and experiencing a subsequent 13.78% share price drop, this quarter's performance shows a significant improvement.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 9:10 pm

High Tide Inc. (NASDAQ:HITI) reported Q4 earnings of $0.03 per share, surpassing the consensus estimate of $(0.03) by 200%. The earnings represent a significant improvement from a $(0.05) loss per share in the same quarter last year. Quarterly sales reached $93.64 million, slightly exceeding expectations of $92.93 million and marking a 15.05% increase from $81.39 million in the prior year's quarter.

Portfolio Pulse from bharat@benzinga.com

January 29, 2024 | 9:10 pm

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