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High Tide HITI Stock Posts Record Revenue and Income Gains

D. H. Taylor
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Joined: 1 year ago
Posts: 260
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High Tide HITI stock reported financial data for October quarter and year-end.  The numbers were solid and consistent with my analysis of the company: It is one of the best marijuana stocks to buy now!  Revenues increased ~20% QoQ.  Gross margins remain consistent at approximately 37% for the quarter.  Net earnings for High Tide were down slightly QoQ, however, the company has just reported two consecutive quarters with positive net income.  High Tide is an excellent company with strong fundamentals and these are the reasons it has been one of my favorite cannabis stocks.

High Tide HITI stock

For now, the stock price has been muted from the reaction.  Yesterday's activity saw significant upward movement in cannabis stocks across the board.

I still believe there will be a general sell-off in cannabis stocks.  And, I believe that HITI will come down because of that.  The impetus is simply that too many cannabis stocks are fundamentally priced too high right now, such as Tilray TLRY, Canopy Growth CGC, Aurora Cannabis ACB, to name a few.

This topic was modified 6 days ago by D. H. Taylor