High Tide: The Rising Tide Of Cannabis

Grocery stores, pharmacies, and gas stations have been essential business during the pandemic, do cannabis dispensaries fall under that category as well? High Tide Inc (OTCMKTS: HITIF) has been dominating the industry. With all the stay-at-home orders put in place all around the world, people have had more time on their hands. People are seizing this opportunity to experiment with the relaxation effects of marijuana in the comfort of their homes. High Tide is a manufacturer, distributor, and retailer of cannabis products and accessories that are located in Canada. With their slogan "One Stop Shop of Cannabis'' they have an unmated potential from the growing cannabis market.

person holding white flower during sunset

Image Source: Unsplash

The Green Expansion

High Tide is becoming a dominant force in the weed accessories market with the help of an explosive expansion. This undervalued company should have you foaming at the mouth with all the strong fundamentals that surround it. Their cannabis retail brands include Canna Cabana, Kush Bar, New Leaf, and META creating one of the largest footprints in Canada. After researching HITIF, the company had a total of 67 stores with a projection of doubling their brick-and-mortar locations. Currently, High Tide has expanded its shops and opened its 83rd location in a prime tourist destination. High Tide completed the acquisition of META Growth Crop. and became the leading Canadian cannabis retailer. The addition of new stores and the business combination of META into the Company contributed $23M of the increase in revenue while existing businesses contributed $1M. META Growth was not its only acquisition, GrassCity was one of their recent acquisitions as well. Based in Amsterdam, the Netherlands, GrassCity is the world's #1 online store for smoking accessories and cannabis lifestyle products. It is the most searchable smoking accessories retailer, with approximately 5.8 million site visits annually. With 550,000 customers that log into grasscity.com, the website generates over 90% of its revenues from customers in the United States. HITIF is taking aggressive steps to adjust its business model by pursuing expansion opportunities in the United States and Europe.

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Disclosure: I currently own 713 shares at $0.67 and I will continue to add before the price hits $1.

Disclaimer: This article is not an investment recommendation,  more

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Carl Schwartz 2 weeks ago Member's comment

Great article! I particularly like, “$HITIF hitting the $2-$5 range is a matter of “when”, not “if”!