High Tide Stock Price, News & Analysis

High Tide Inc. (HITI) announced its inclusion in the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ), recognizing its successful execution and increasing institutional interest since its Nasdaq listing. This marks High Tide's second ETF inclusion in two months. Additionally, results from the Annual General Meeting confirmed the re-election of all nominated directors and the appointment of Ernst & Young as auditors. The Board also granted 35,000 restricted share units to an officer, enhancing employee motivation and aligning interests.

High Tide Inc. (TSXV: HITI, Nasdaq: HITI) announced the opening of its 88th retail location at 228 Centennial Drive N in Martensville, Saskatchewan, specializing in recreational cannabis products. This marks High Tide's fourth store in Saskatchewan, strategically located near major restaurants and retail chains. The company emphasizes its commitment to organic growth and expanding its e-commerce presence following recent acquisitions in the U.S. High Tide is noted as the most profitable Canadian cannabis retailer, with 88 locations across Canada.

High Tide, a retail cannabis company, has announced the acquisition of DankStop for US$3.85 million. This strategic move aims to enhance High Tide's U.S. e-commerce footprint and leverage DankStop's 200,000 email subscribers. The acquisition is expected to create synergies and streamline operations, with DankStop's co-founders joining High Tide's team. The transaction is subject to TSX Venture Exchange approval and is anticipated to close soon, positioning High Tide for future growth in the cannabis market.

High Tide has successfully acquired DHC Supply LLC, known as Daily High Club, enhancing its cannabis retail offerings. The deal includes 839,820 High Tide common shares valued at US$6.75 million and US$3.25 million in cash. Daily High Club is a leading retailer with over one million accessories sold and strong social media presence. This acquisition positions High Tide to potentially capitalize on U.S. online cannabis sales if federal legalization occurs. Harrison Baum from Daily High Club joins High Tide as Director of Digital Marketing.

High Tide has announced the acquisition of DankStop for US$3.85 million. This strategic move strengthens High Tide's e-commerce position, adding DankStop's over 200,000 email subscribers and 335,000 Instagram followers. The acquisition is immediately accretive, with DankStop generating over US$3 million in revenue in the last year. Following the deal, High Tide's U.S. revenue run rate will reach approximately CAD$55 million. The transaction is expected to close soon and enhances operational efficiency as DankStop is an existing supplier.

High Tide Inc. (HITI) has opened its 20th cannabis retail store in Ontario, located at 111 Rideau Street, Ottawa. This move aligns with the company's strategy to foster organic growth in profitable areas. High Tide operates 87 retail locations across multiple provinces and emphasizes its strong fundamentals and e-commerce growth. CEO Raj Grover highlighted plans to accelerate brick-and-mortar expansion and seek e-commerce acquisitions in the U.S. The company is recognized as Canada's most profitable cannabis retailer by Adjusted EBITDA.

High Tide has completed the sale of its KushBar cannabis retail stores to Halo Collective for $5.7 million. This deal includes a deposit of $3.5 million in Halo shares, a $1.8 million convertible promissory note, and a potential $400,000 earnout note based on revenue performance. High Tide will continue to oversee Halo’s retail operations and receive ongoing royalties for advisory services. This strategic move allows High Tide to focus on its core business while ensuring financial returns through new revenue streams.

High Tide has successfully closed the sale of its three KushBar retail cannabis stores to Halo for $5.7 million. The payment consists of a $3.5 million deposit in Halo shares, alongside two convertible promissory notes totaling $2.2 million. Halo will continue to engage High Tide for operational oversight and pay ongoing royalties for advisory services. This deal complies with necessary AGLC regulatory approvals. High Tide is recognized as Canada’s most profitable recreational cannabis retailer, currently operating 86 locations across several provinces.

High Tide welcomes the proposed Cannabis Administration and Opportunity Act (CAOA), which aims to federally deschedule cannabis and expunge prior convictions. If passed, this could enhance opportunities for cannabis retail, particularly for High Tide, which is the most profitable Canadian cannabis retailer by Adjusted EBITDA. The Company plans to expand into the U.S. market through e-commerce and physical stores, contingent on CAOA's passage. Currently, High Tide operates 89 locations across Canada and has a robust online presence with nearly 100 million site visits in 2020.