High Tide ( (TSE:HITI) ) has issued an update.
High Tide Inc. reported approximately CAD $6.8 million in retail sales during the ‘4/20’ long weekend, marking a 10% increase from the previous week. The company also completed its largest-ever 4/20 giveaway, awarding a $100,000 cash prize to an ELITE member from Winnipeg. This event highlights the company’s strong sales momentum and successful customer-first strategy, positioning Canna Cabana as a leading retail brand for cannabis enthusiasts in Canada. Additionally, High Tide granted 136,000 incentive stock options to employees, consultants, and management, reflecting its commitment to rewarding and motivating its workforce.
Spark’s Take on TSE:HITI Stock
According to Spark, TipRanks’ AI Analyst, TSE:HITI is a Neutral.
High Tide shows strong revenue growth and potential for long-term expansion, particularly with its strategic store openings and international market entry plans. However, ongoing profitability challenges, as reflected in negative earnings and adjusted EBITDA decline, weigh heavily on the overall score. Technical indicators signal caution with potential bearish momentum. The lack of dividend yield and negative P/E ratio further impact the valuation negatively. Despite positive earnings call sentiment and strategic initiatives, the company’s ability to turn growth into sustainable profits remains crucial for future stock performance improvement.
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 and the second-largest cannabis retailer globally by store count. The company operates a diverse and fully-integrated cannabis business, including the largest cannabis retail chain in Canada, Canna Cabana, and a suite of e-commerce platforms for consumption accessories. High Tide is also involved in CBD products, wholesale distribution, and licensing, with a focus on innovation and consumer engagement.
YTD Price Performance: -28.01%
Average Trading Volume: 644,205
Technical Sentiment Signal: Buy
Current Market Cap: $193M
For detailed information about HITI stock, go to TipRanks’ Stock Analysis page.