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High Tide Inc. - $HITI STOCK NEWS

Welcome to our dedicated page for High Tide news (Ticker: $HITI), a resource for investors and traders seeking the latest updates and insights on High Tide stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect High Tide's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary

High Tide Inc. announced the opening of its 171st Canna Cabana store in Canada, the first in Pickering, Ontario. Situated in a prime retail location, this new store will offer recreational cannabis products and accessories for adult use. With a focus on strategic expansion in high-growth areas like Pickering, High Tide aims to capitalize on the city's population growth and retail opportunities.

Rhea-AI Impact
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End-of-Day
-1.32%
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Rhea-AI Summary

High Tide Inc. announced the opening of its 170th Canna Cabana store in Ajax, Ontario, marking the 61st store in the province and the 2nd in Ajax. The new store offers recreational cannabis products and accessories for adult use, situated in a prime location with growth potential. With plans to open more locations between Toronto and Ottawa, High Tide aims to reach 300 stores nationwide.

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Rhea-AI Sentiment
End-of-Day
1.83%
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Rhea-AI Summary

High Tide Inc. announced the opening of its Canna Cabana retail cannabis store in Owen Sound, Ontario, marking the 60th location in Ontario and 169th in Canada. The strategic location near major retailers is expected to attract customers. The company's Founder and CEO, Raj Grover, expressed excitement for future expansions in 2024, emphasizing strong cash flow generation and rapid growth plans.

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-1.37%
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Rhea-AI Summary

High Tide Inc. announced the appointment of Mayank Mahajan as the new Chief Financial Officer, bringing extensive financial expertise across various sectors. The company also granted stock options and restricted share units to officers, directors, and employees. The appointment aims to drive sustainable growth, improve financial accountability, and enhance corporate governance.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.37%
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management
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Rhea-AI Summary

High Tide Inc. welcomes the Biden administration's move to reschedule cannabis from Schedule I to Schedule III, potentially allowing companies to deduct business expenses. The company sees this as a historic moment for cannabis reforms in the U.S., aiming to support the growth of a legal sector and displace the illicit market, with positive implications for its international prospects.

Rhea-AI Impact
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-4.37%
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Rhea-AI Summary
High Tide Inc. reports approximately $2 million in retail sales on '4/20', with a 35% increase week-over-week. The company generated CAD $1.965 million in total retail gross revenues across all retail platforms. Canadian bricks-and-mortar stores saw a 30% increase, while e-commerce platforms reported a 119% increase. The annual 4/20 car giveaway was also completed, with the winner being an ELITE member from Canna Cabana store.
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-0.47%
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High Tide Inc. announces its participation at upcoming cannabis investment and B2B conferences, including the International Cannabis Business Conference in Berlin, Germany, and the Benzinga Cannabis Capital Conference in Hollywood, Florida. The company's Founder and CEO, along with other key executives, will be attending these events to showcase High Tide's presence in the cannabis industry.
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-0.88%
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Rhea-AI Summary
High Tide Inc. announces the transition of Chief Financial Officer role to a new candidate, effective May 1, 2024, with Sergio Patino stepping down. The new candidate's details will be disclosed in a future press release.
Rhea-AI Impact
Rhea-AI Sentiment
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-9.24%
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Rhea-AI Summary
High Tide Inc. becomes the largest cannabis retailer in Canada's fastest-growing city with the opening of its 168th Canna Cabana store in Mississauga, Ontario. The company's innovative retail strategy has secured over 10% market share in the provinces where it operates, positioning it for potential expansion into the German market.
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-1.53%
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Rhea-AI Summary
High Tide Inc. is well-positioned to enter the German cannabis market following the legalization of cannabis in Germany. The company has signed a non-binding letter of intent with Sanity Group to leverage synergies and prepare for commercial sales through cannabis specialty shops. High Tide's experience as the second largest cannabis retailer in North America and its strategic partnerships make it poised to introduce its unique cannabis discount club model to German consumers.
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Rhea-AI Sentiment
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-3.45%
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High Tide Inc.

Nasdaq:HITI

HITI Rankings

HITI Stock Data

183.92M
71.28M
9.21%
10.9%
3.96%
All Other Miscellaneous Store Retailers (except Tobacco Stores)
Retail Trade
Link
United States of America
Calgary

About HITI

high tide inc. operates as a vertically-integrated company in the cannabis market in canada. it engages in the design, manufacture, and distribution of cannabis accessories and alternative lifestyle products. the company is also involved in the retailing of cannabis products. as of august 7, 2020, it operated 34 canna cabana retail cannabis stores in ontario, alberta, 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.