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High Tide ( (TSE:HITI) ) just unveiled an update.
High Tide Inc. announced the opening of three new Canna Cabana locations in Ontario and Alberta, increasing its total store count to 210 across Canada. This expansion is part of High Tide’s strategy to self-fund growth through its profits, targeting high-growth markets with significant revenue potential. The new locations in North York, Etobicoke, and Fort McMurray are strategically positioned to maximize visibility and accessibility, catering to both local residents and visitors, and are expected to enhance the company’s market presence and operational reach.
The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$7.25 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 is driven by strong financial performance and positive earnings call sentiment, highlighting growth in retail expansion and market share. However, the technical indicators suggest the stock may be overbought, and the negative P/E ratio reflects ongoing profitability challenges.
To see Spark’s full report on TSE:HITI stock, click here.
More about High Tide
High Tide, Inc. is a leading cannabis enterprise with a focus on retail operations through its subsidiary Canna Cabana, which is the second-largest cannabis retail brand globally. The company operates 210 locations across Canada and has a significant market share in the cannabis retail sector. High Tide also engages in medical cannabis distribution through its subsidiary Remexian Pharma GmbH, which imports and wholesales medical cannabis products in Germany.
Average Trading Volume: 100,991
Technical Sentiment Signal: Buy
Current Market Cap: C$439.7M
Find detailed analytics on HITI stock on TipRanks’ Stock Analysis page.