Welcome to the Cannabis Investing Newsletter Forum. Feel free to find your favorite cannabis stocks and contribute content as you please; content that continues the discussion of and analysis of cannabis stocks. – D. H. Taylor
High Tide HITI Stock Posts Record Revenues - HITI to move up
High Tide HITI Stock posted revenues for the quarter and the headline was impressive with well-above expectations numbers. High Tide is one of my Top Picks and they are one of the best marijuana stocks to buy now. However, you need to dig a little deeper.to fully understand what High Tide did earn and how this will affect the stock, HITI, moving forward. First, the Meta Growth NACNF acquisition was fully realized. So, the revenue gains were largely the increase in revenues based upon the addition of Meta Growth's revenues to High Tide's revenues. This makes the revenue increase a little more measured than the headline story.
Something to keep in mind is that there was some jostling of stores with the deal. Some stores were closed for optimization purposes and others were sold to Halo Collective; HCANF. At the same time, management provided guidance via a presentation and I am putting together a future projection based on that.
I am going to break down the financial data and point out the highlights as well as what I am looking for over the next four quarters to show where I think HITI will be in one year's time.