High Tide Q3: Incredible Sales Momentum, Weaker Gross Margin (Rating Upgrade) [Seeking Alpha]
High Tide Inc. - Common Shares (HITI)
Company Research
Source: Seeking Alpha
Play 13min Summary High Tide's Q3 showed great sales growth amid slower industry growth, as the Canna Cabana chain continues gaining market share. The gross margin contracted sequentially, being a cost of the rapid sales expansion, but I believe that the long-term case for margin expansion still stands. High Tide's retail network expansion, membership growth, private label launch, pop-up stores, and potential new market entries should continue the ongoing momentum in upcoming years. HITI stock is now increasingly attractively priced. JHVEPhoto/iStock Editorial via Getty Images High Tide Inc. NASDAQ: HITI ), the Canadian cannabis retailer operating primarily under the Canna Cabana brand, reported the company's fiscal Q3 results on the 16 th of September after market close. While revenues grew above Wall Street's expectations, profitability took a sequential hiccup from a softer gross margin and High Tide's retail network expansion. Overall, the quarter highlighted High
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HITI
News
- High Tide to Open Third Canna Cabana in Hamilton, Ontario [Yahoo! Finance]Yahoo! Finance
- High Tide to Open Third Canna Cabana in Hamilton, OntarioPR Newswire
- High Tide Announces Closing of Final Tranche of $15 Million Subordinated Debt Facility [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- High Tide Announces Closing of Final Tranche of $15 Million Subordinated Debt FacilityPR Newswire
- High Tide Inc. (NASDAQ: HITI) was upgraded by analysts at Roth Capital to a "strong-buy" rating.MarketBeat
HITI
Sec Filings
- 11/18/24 - Form 6-K
- 11/15/24 - Form D
- 11/13/24 - Form 6-K
- HITI's page on the SEC website