HITI Stock Summary and Trading Ideas (High Tide - Common Shares | NASDAQ:HITI)

High Tide Inc is a downstream-focused retailer of cannabis products, distributor, and seller of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker's Corner Ltd., Grasscity.com, Canna Cabana Inc., and KushBar Inc. The firm has established two main segments, retail and wholesale. It generates substantial revenue from retail stores' e-commerce platforms. Geographically it serves Canada, the USA, and other international markets and earns key revenue from domestic sales.

High Tide - Common Shares trades on the NASDAQ stock market under the symbol HITI.

As of April 26, 2024, HITI stock price was flat at $2.03 with 761,968 million shares trading.

HITI has a beta of -0.09, meaning it tends to be less sensitive to market movements. HITI has a correlation of 0.00 to the broad based SPY ETF.

HITI has a market cap of $159.47 million. This is considered a Micro Cap stock.

Last quarter High Tide - Common Shares reported $94 million in Revenue and $.00 earnings per share. This fell short of revenue expectation by $-573,000 and exceeded earnings estimates by $.01.

HITI has outperformed the market in the last year with a return of +61.1%, while the SPY ETF gained +27.4%. In the last 3 month period, HITI beat the market returning +5.7%, while SPY returned +4.6%. However, in the most recent 2 weeks HITI has underperformed the stock market by returning -10.2%, while SPY returned -0.5%.

HITI support price is $1.90 and resistance is $2.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HITI stock will trade within this expected range on the day.