High Tide Stock Price, News & Analysis

High Tide Inc. (HITI) announced significant growth in its Cabana Club loyalty program, surpassing 1 million members, marking a remarkable 110% increase from April 20, 2022. On April 20, 2023, the company reported over $2 million in retail sales, a 64% rise from the previous week. This includes a 46% increase in sales from Canadian stores and a staggering 216% growth in e-commerce sales. CEO Raj Grover highlighted the importance of customer loyalty in driving these results, stating that over 90% of transactions involve club members. With its expanding customer base exceeding 4.5 million, High Tide aims to leverage its loyalty program for greater discounts and sales, reinforcing its strategy for global growth in the cannabis market.

High Tide Inc. (HITI) has commenced the search for potential cannabis retail locations in Mississauga, Ontario, following the City Council's recent approval for legal cannabis stores. This decision allows residents to access legal cannabis products locally, reducing reliance on illegal dispensaries. High Tide's CEO, Raj Grover, emphasized the opportunity for expansion in a city of over 800,000, where the company's retail brand, Canna Cabana, can thrive. The company's Cabana Club loyalty program boasts nearly 1 million members, indicating strong community engagement. High Tide anticipates that this move will generate new jobs and encourage investment within Mississauga, showcasing a proactive approach to tackling illicit cannabis sales.

High Tide Inc. (Nasdaq: HITI) announced its virtual presentation at the Sequire Cannabis & Psychedelics Conference on April 5, 2023, at 3:00 PM EDT. Vahan Ajamian, Capital Markets Advisor, will present, showcasing High Tide's leading position in the cannabis retail sector. The company is recognized for its diversified operations, including retail chains like Canna Cabana™, e-commerce platforms, and wholesale distribution. High Tide has been acknowledged as one of Canada's Top Growing Companies in 2021 and 2022, and ranked first in retail by Financial Times in 2023. Registration for the event is available online.

High Tide Inc. (NASDAQ: HITI) announced that its officers, directors, and consultants acquired 258,921 common shares from March 24 to March 29 at an average price of $1.59 per share. This move signifies their confidence in the company's intrinsic value and growth prospects. Following these transactions, insiders and consultants now hold approximately 9.67% of High Tide's outstanding shares. High Tide operates a diversified cannabis enterprise, including retail operations through Canna Cabana, and has been recognized for growth by various publications.

High Tide Inc. (HITI), a leading cannabis retail enterprise, has been recognized as the top company in the retail category and ranked 31st overall in the Financial Times' Americas' Fastest Growing Companies for 2023. This ranking highlights firms based on the highest revenue growth between 2018 and 2021, involving over 7,000 companies across 20 countries. High Tide's revenue surged from approximately $8 million to a projected annual run rate nearing $500 million, aided by its expansion to 151 Canna Cabana locations. CEO Raj Grover emphasized the company's commitment to becoming a household name in the Canadian cannabis industry.