High Tide HITI stock is positioned to move upwards should any of the cannabis stocks actually start moving. Recent financial data for High Tide shows expanding revenue from a cannabis company that is growing significantly and becoming one the best marijuana stocks to buy. Earlier guidance had High Tide revenue coming in at approximately $110M USD. That number appears that it will be easily blown out; I am expecting High Tide HITI stock to print about $120M - $125M revenue for the year. Further, should new acquisitions close in a timely manner for High Tide HITI stock, very likely, there will be an additional $25M added to the annual revenue. From a revenue perspective, there is a lot to cheer about. From a margins perspective, numbers are still not entirely where they could be but, you have to break a few eggs in order to make an omelet. Given that, I see this as an opportunity. Surely High Tide will be able to achieve higher levels on their margins. Should they, there is a significant amount of upside potential.
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.
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.