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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.

High Tide Inc. (HITI) operates as a vertically-integrated company in the Canadian cannabis market, focusing on the design, manufacture, and distribution of cannabis accessories and alternative lifestyle products. High Tide also engages in the retailing of cannabis products through its extensive network of retail stores and online platforms.

Founded in 2009 and headquartered in Calgary, Canada, High Tide initially went by the name High Tide Ventures Inc. before rebranding to High Tide Inc. in October 2018. The company has made significant strides in the industry, particularly with its Canna Cabana retail cannabis stores. As of May 2024, High Tide operates 172 Canna Cabana locations, making it the largest non-franchised cannabis retail chain in Canada.

The company's business is divided into two main segments: retail and wholesale. On the retail front, High Tide's Canna Cabana locations offer a unique cannabis discount club model. This model was first introduced in North America in 2021 and has since become a significant revenue driver. The company's retail innovation also extends to its Fastendr™ technology, which integrates retail kiosks and smart lockers to enhance the customer shopping experience.

High Tide's e-commerce operations are equally robust, with a suite of leading accessory sites like Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com. These platforms have seen substantial growth, especially during significant cannabis events like '4/20'.

In the wholesale segment, High Tide supplies the cannabis category through Valiant™, ensuring that retail stores and e-commerce platforms are well-stocked with high-quality products. The company also engages in licensing through Famous Brandz™, continually pushing the boundaries of cannabis culture with innovative products and strategic partnerships.

High Tide has earned numerous accolades, including being named one of Canada’s Top Growing Companies by the Globe and Mail's Report on Business Magazine for three consecutive years (2021-2023). The company was also listed as one of the top 10 performing diversified industries stocks in the 2022 and 2024 TSX Venture 50.

Recently, High Tide has been active in expanding its market reach and influence. The company welcomed the start of cannabis legalization in Germany and signed a non-binding letter of intent with the Berlin-based Sanity Group to leverage synergies in the German market. Additionally, High Tide continues to make strategic moves in the U.S. market, especially with the potential reclassification of cannabis to a Schedule III substance, which could open new avenues for business growth.

For the latest updates, High Tide has announced its upcoming participation in key industry events like the International Cannabis Business Conference in Berlin and the Benzinga Cannabis Capital Conference in Hollywood, Florida. The company will also release its financial and operational results for the quarter ended April 30, 2024, on June 13, 2024, followed by a webcast to discuss these results.

For more information, visit www.hightideinc.com, and for investment performance, check out the High Tide profile pages on SEDAR+ and EDGAR.

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FAQ

What is High Tide Inc.'s primary business?

High Tide Inc. is a vertically-integrated company that designs, manufactures, and distributes cannabis accessories and alternative lifestyle products. The company also operates retail cannabis stores and e-commerce platforms.

How many retail locations does High Tide operate?

As of May 2024, High Tide operates 172 Canna Cabana retail cannabis locations across Canada.

What is the significance of the Canna Cabana retail model?

Canna Cabana is the largest non-franchised cannabis retail chain in Canada, offering a unique cannabis discount club model that was first introduced in North America in 2021.

What e-commerce platforms does High Tide manage?

High Tide manages several leading accessory sites, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.

What recent international developments involve High Tide?

High Tide welcomed the legalization of cannabis in Germany and signed a non-binding letter of intent with Berlin-based Sanity Group to explore synergies in the German market.

What awards and recognitions has High Tide received?

High Tide has been named one of Canada’s Top Growing Companies for three consecutive years (2021-2023) by the Globe and Mail's Report on Business Magazine and was listed among the top 10 performing diversified industries stocks in the 2022 and 2024 TSX Venture 50.

What is Fastendr™ technology?

Fastendr™ is a unique and fully automated technology developed by High Tide that integrates retail kiosks and smart lockers to provide a better customer shopping experience through efficient browsing, ordering, and pickup.

What are High Tide's plans for the U.S. market?

High Tide is exploring opportunities in the U.S. market, especially with the potential reclassification of cannabis to a Schedule III substance, which could allow the company to expand its operations.

When will High Tide release its next financial results?

High Tide will release its financial and operational results for the quarter ended April 30, 2024, on June 13, 2024.

What recent changes in Canadian cannabis regulations affect High Tide?

The Alberta Gaming Liquor and Cannabis (AGLC) has amended its Retail Cannabis Store Handbook to allow private label cannabis sales, which will benefit High Tide's brands like Cabana Cannabis Co. and Queen of Bud.

High Tide Inc.

Nasdaq:HITI

HITI Rankings

HITI Stock Data

211.51M
71.28M
9.21%
10.9%
3.96%
All Other Miscellaneous Store Retailers (except Tobacco Stores)
Retail Trade
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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.