High Tide Stock Price, News & Analysis

High Tide has launched a new paid membership program called Cabana Elite, designed for its existing Cabana Club members. This program offers exclusive benefits, including discounts on products and flash sales. For a limited time, the membership fee is reduced to $2.50 per month, a 50% discount. With over 860,000 current Cabana Club members, this initiative aims to enhance customer loyalty and expand the customer base. Additionally, High Tide has granted 25,000 stock options to employees as part of its incentive plan.

High Tide Inc. (NASDAQ: HITI) has become the top revenue-generating cannabis company in Canada, according to New Cannabis Ventures. The Company opened its 142nd Canna Cabana location in Windsor, Ontario, enhancing its retail presence. Key metrics include quarterly sales of $95.40 million CAD with 98% year-over-year growth. The Company’s operational strategy focuses on expanding bricks-and-mortar and e-commerce platforms to capitalize on growth opportunities. High Tide's achievements reflect robust management dedication and strategic execution.

High Tide Inc. (HITI) has announced that its Colorado-based subsidiary, NuLeaf Naturals, launched Full Spectrum Multicannabinoid oil and plant-based softgels for sale in Manitoba via the Manitoba Liquor & Lotteries Corporation. The oil, available in 1800 ml containers at 12 mg/ml concentration, features Delta 9, CBD, CBC, CBG, and CBN. The softgels contain 3 mg of each cannabinoid in packs of 120. Following recent listings in Ontario, this expansion aims to enhance access for consumers across Canada. High Tide continues its commitment to innovation in the cannabinoid market.

High Tide Inc. (NASDAQ: HITI) announced the opening of its 141st Canna Cabana retail cannabis store at 5628 Dunbar Street, Vancouver, as of October 25, 2022, at 4:20 PM. This marks their third location in Vancouver and fourth in British Columbia. The new store aims to serve both local residents and visitors, being strategically located near a major grocery chain and colleges with over 80,000 combined students. High Tide continues to expand its discount club model, enhancing its presence in a major cannabis market with plans to operate eight stores in BC by year-end.

High Tide Inc. (NASDAQ: HITI) has announced that its subsidiary, NuLeaf Naturals, has successfully listed its Full Spectrum Hemp Multicannabinoid oil and plant-based softgels for sale in Ontario. This approval from the Ontario Cannabis Store allows NuLeaf's products—featuring five cannabinoids including Delta 9, CBC, CBD, CBG, and CBN—to reach Canadian consumers. These products will be available in 1800 ml containers and 120-pack softgel formats. The launch in Ontario marks a significant milestone for NuLeaf, aiming to capture market share in Canada and combat illicit CBD sales.

High Tide, a prominent cannabis retailer, is acquiring 100% equity of Jimmy's Cannabis Shop BC for $5.3 Million. This acquisition adds two stores in British Columbia, increasing High Tide's footprint to five locations in the province. The stores generated annualized revenue of $5.4 Million and an Adjusted EBITDA of $1.0 Million for the trailing four months ended May 31, 2022. The purchase price reflects a multiple of 5.25x the annualized Adjusted EBITDA. This strategic move is aimed at enhancing High Tide's market presence and aligns with its growth strategy.