New High Ahead? High Tide Inc (OTCMKTS:HITID) Is In News Again

High Tide Inc (OTCMKTS:HITID) continues to move higher on Tuesday after soaring 15% in the previous trading session .

Market Action

As of 10.10, HITID stock jumped 12.% to $9.83 on volume of 177K shares, compared to its average volume of 3.53 million shares. The stock has moved within a range of $9.50 – 9.95 after opening the trade at $9.89.

High Tide Continues Organic Growth with Two Stores in Alberta

• announced today that its Alberta-based Canna Cabana retail stores located at 7400 Macleod Trail SE, Unit #2 in Calgary, and 4806 50 Avenue in Vegreville, have begun selling recreational cannabis products for adult use. These openings bring High Tide’s total branded retail locations selling recreational cannabis products and consumption accessories across Canada to 87.  Staying true to High Tide’s strategy of driving organic growth in profitable neighbourhoods, both stores are located within established retail corridors.

“I am pleased that despite the ongoing pandemic, our team has managed to continue driving High Tide’s organic growth strategy,” said Raj Grover, President and Chief Executive Officer of High Tide. “Although Ontario’s pandemic related restrictions on construction continue to impact the pace of store buildouts in that province, we have pivoted our efforts to ramp up the rollout of new stores in other jurisdictions and are hopeful that Ontario’s restrictions will ease before the summer construction season gets into full swing.  We anticipate more Ontario store openings shortly after construction restrictions are lifted,” added Mr. Grover.

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