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) generates frequent news as a cannabis-focused retail and distribution company with operations in Canada, Germany, and global e-commerce. News about High Tide often centers on the expansion of its Canna Cabana retail chain, developments in its medical cannabis distribution business in Germany, and updates related to its hemp-derived CBD brands and online platforms.
Investors and followers of HITI can expect regular announcements about new Canna Cabana store openings across Canadian provinces such as Alberta and Ontario, as well as updates on international locations like the Berlin Canna Cabana store. These releases typically describe store locations, local market characteristics, and how new sites fit into High Tide’s broader retail strategy and discount club model.
High Tide’s news flow also includes participation in investor conferences, recognition in business rankings, and commentary on regulatory developments affecting cannabis and CBD markets. The company has issued news about being named to Canada’s Top Growing Companies list and about its ranking on the Financial Times list of Americas’ Fastest Growing Companies. It also publishes releases related to corporate milestones, such as entering the German medical cannabis market through Remexian Pharma GmbH.
On Stock Titan’s HITI news page, readers can review these company-issued updates in one place, including store expansion announcements, international growth initiatives, and regulatory or policy commentary that High Tide chooses to highlight. This makes the page a useful reference for tracking how the company describes its strategy, geographic footprint, and operational progress over time.
High Tide Inc. (TSXV: HITI), Canada's largest cannabis retailer, welcomes the Ontario AGCO's decision to amend regulations, effective June 30, allowing retail cannabis licensees to create agreements with Licensed Producers for white label products. This change aims to level the playing field for cannabis retailers and enhance product differentiation. Additionally, High Tide granted 5,000 stock options to employees and announced a transition in its CTO position. As of now, the company operates 113 cannabis stores across Canada, with plans to acquire four more in Ontario, raising its total to 117.
High Tide Inc. (NASDAQ: HITI) reported a remarkable 88% revenue growth to $72.2 million in Q1 2022, marking the second-highest quarterly revenue for a Canadian cannabis company. Gross profit surged 56% to $23.0 million, though the profit margin slipped to 32%. Adjusted EBITDA fell to $3.0 million, down 36% year-over-year, but was up 80% sequentially. The company also saw significant growth in its Cabana Club membership, increasing to over 381,000 members. Retail expansion continues with 113 locations now operational, and plans for further market penetration in Ontario and British Columbia.
High Tide Inc. (HITI) announced the entry of its UK subsidiary, Blessed CBD, into the German market, launching online sales of various CBD products via www.BlessedCBD.de. Germany, projected to capture half of the EU cannabis market by 2024, positions itself as the largest CBD market in Europe. The global CBD demand is expected to hit US$56 billion by 2028. This strategic move aims to diversify High Tide's revenue streams while leveraging their existing infrastructure in Europe.
High Tide Inc. (HITI) announced the launch of its Delivery on Demand program in Alberta, allowing customers to receive orders within two hours. This initiative capitalizes on new regulations enabling private cannabis retailers to offer e-commerce services. Additionally, High Tide opened its 113th retail cannabis store in Waterloo, Ontario, marking its third in a rapidly growing region. The company aims to enhance competition against illicit markets and strengthen its market position in Alberta, further solidifying its status as the largest cannabis retailer in the province.
High Tide Inc. (HITI) has announced the launch of its FAB CBD Subscribe-and-Save discount program in the U.S., aimed at enhancing customer convenience through customizable orders and lifetime discounts of 20%. This initiative is expected to increase the lifetime value of customers and create a predictable recurring revenue stream for the company. CEO Raj Grover highlighted the program as a part of their strategy to leverage acquired businesses for consistent revenue growth, emphasizing future plans including the launch of a similar service in the U.K.
High Tide Inc. has opened its 112th retail cannabis store in Edmonton, Alberta, enhancing its footprint in Canada. This new location focuses on recreational cannabis sales and is strategically placed in a high-traffic area known for its local business community. The launch coincides with the anticipated private sector e-commerce and delivery services in Alberta, potentially increasing customer access to High Tide's offerings. The company plans to announce its first quarter financial results on March 17, 2022, which will provide insight into its operational performance.
High Tide Inc. (HITI) announced the opening of its 112th retail cannabis location at 8927 82 Avenue, Edmonton, Alberta. This store, part of the Canna Cabana brand, will offer recreational cannabis products and consumption accessories. It marks the company's eighth outlet in Edmonton, strategically situated in a popular, well-trafficked area near local businesses and educational institutions. CEO Raj Grover highlighted the positive demographic profile of Edmonton and announced upcoming e-commerce options for Alberta. The company will report its first quarter financial results on March 17, 2022.
High Tide Inc. (HITI) announces the acquisition of four retail cannabis stores under the Crossroads Cannabis brand in Ontario for CAD $2.5 million. The stores are located in Stratford, Woodstock, Hanover, and Markdale, generating annualized revenue of CAD $7.6 million and EBITDA of CAD $0.7 million for the last quarter of 2021. This acquisition, valued at 3.5x EBITDA, is part of High Tide's strategy to consolidate the market and aims to expand its presence in Ontario, targeting 150 stores by the end of 2022.
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