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 reported a remarkable 99% revenue increase to $48.1 million for Q3 2021, influenced by strategic acquisitions. Gross profit rose 75% to $16.7 million, despite a decrease in gross profit margin to 35%. Adjusted EBITDA fell to $1.5 million from $3.4 million due to rising operational costs linked to its Nasdaq listing. Cash reserves improved significantly to $26.6 million. The company opened seven new stores, boosting total locations to 93, and aims to reach around 110 by year-end.
On September 14, 2021, High Tide Inc. (TSXV: HITI, Nasdaq: HITI) announced the unveiling of its new cannabis retail outlet concept, the "Cannabis Chop Club". These stores will offer a compact average footprint of 1,000 to 1,200 square feet, differentiating from the existing Canna Cabana locations. Build costs are estimated to be between $125,000 and $150,000, significantly lower than Canna Cabana's typical costs. The new outlets aim to attract value-sensitive customers, enhancing market share and competing against the illicit market. High Tide's membership program will extend to Chop Club members.
High Tide Inc. has revealed its new cannabis retail concept, Cannabis Chop Club, aimed at value-focused consumers. The stores will be smaller, averaging 1,000-1,200 square feet, and have lower build costs of $125,000 to $150,000. The Chop Club will offer exclusive deals for members and leverage High Tide’s existing loyalty programs. CEO Raj Grover highlights the potential to capture market share from the illicit cannabis market. The company, known for its retail cannabis and consumption accessories, operates 93 locations in Canada.
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has launched a private label program (PLP) in partnership with High Tide Inc. (Nasdaq: HITI) to produce Cabana Cannabis Co. branded shatter for distribution across Ontario, Manitoba, Saskatchewan, and Alberta. Heritage, a top three concentrates producer in Canada, aims to leverage its manufacturing expertise to expand its market presence. The agreement's success hinges on listing approval and may lead to further jurisdictional expansions.
High Tide Inc. (HITI) announced two white label partnerships with Heritage Cannabis Holdings and Loosh Inc. to produce its "Cabana Cannabis Co." branded shatter and THC gummies. These products will be distributed across Ontario, Manitoba, Saskatchewan, and Alberta, with potential expansion into other Canadian regions. CEO Raj Grover emphasized a cautious approach to entering the cannabis market. High Tide operates 93 locations and is a leading cannabis retailer in Canada, focusing on customer experience and shareholder value.
High Tide Inc. (HITI) announced the opening of its 93rd cannabis retail store under the Canna Cabana brand in Ajax, Ontario. This store is strategically located in a commercial plaza and serves a growing community of over 100,000 residents. High Tide continues its expansion across Canada, particularly in Ontario, aiming to tap into strong cannabis consumer demographics. The company is recognized as the most profitable Canadian cannabis retailer, boasting a diversified portfolio that includes various brands and established e-commerce platforms.
High Tide Inc. has successfully converted all outstanding META Convertible Debentures into common shares, significantly reducing its total debt from approximately $71 million to $28.4 million, with $10.8 million being non-interest bearing. The company reported that total debt maturities for the next 12 months are $1.6 million. This move is part of High Tide's strategy to strengthen its balance sheet while expanding its e-commerce presence in the U.S. market. CEO Raj Grover emphasized growth in revenues and cash reserves since acquiring META in November 2020.
High Tide Inc. (TSXV: HITI) announced it will release its financial and operational results for Q3 2021 on September 14, 2021, after market close. Following this, a conference call will be held at 6:00 PM ET to discuss these results. Additionally, the company granted 10,000 stock options to a consultant at an exercise price of $10.00 per share. High Tide, a leading cannabis retailer in Canada, operates 91 locations across multiple provinces and aims to maximize shareholder value through its integrated value chain and ecommerce platforms.
High Tide Inc. announced that its shares are now included in the ETFMG Alternative Harvest ETF, the largest ETF targeting the global cannabis industry. This marks the third ETF listing for High Tide within three months since launching on NASDAQ. The company's president, Raj Grover, emphasized that this inclusion reflects High Tide's operational success. Additionally, the Board of Directors approved the grant of 66,666 stock options to employees and consultants, each convertible into common shares upon vesting.
High Tide has successfully acquired DankStop, enhancing its portfolio in the e-commerce market for consumption accessories. The acquisition grants High Tide access to DankStop's 200,000 email subscribers and 335,000 Instagram followers, bolstering its online presence. DankStop generated over US$3 million in revenue in the past year, with a low double-digit EBITDA margin. The acquisition is valued at US$3,850,000 and is expected to significantly increase High Tide's revenue run rate in the U.S. to approximately CAD$55 million.
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