If you’re looking for the best place to buy weed in Canada, you should check out Tilray, which is worth $19.5 billion, and is still priced at just $0.50 per share.

In case you missed it, Canopy Growth Corp. (TSX: WEED) is on the rise, up more than 60% year to date. So, what is driving the company’s upward trajectory? Well, it’s the legalization of cannabis in Canada, that’s what.


HITIF actions look interesting

High Tide Inc (CVE:HITI, OTCMKTS:HITIF) has to be one of the most overlooked stocks on the market today. High Tide’s shares are trading domestically at C$0.60 per share on the Canadian TSX Venture Exchange. In the United States, HITI shares are traded in the over-the-counter market. Last time I checked, the stock price in the US was only $0.50. Nevertheless, High Tide is a major player in the market in which it operates. Let me explain. High Tide Inc. began in 2009 as a small company with just two employees. Through organic growth and strategic acquisitions, the company has become a major player in the Canadian cannabis retail industry, employing over 700 people. The company has business interests in North America and Europe. According to a recent investor presentation, High Tide has 85 locations in Ontario, Alberta, Manitoba and Saskatchewan. The company has the largest recreational cannabis retail chain in Canada in terms of sales and one of the largest store numbers. (Source: Investor Presentation: April 2021, High Tide Inc, last visited May 7, 2021). The company’s retail outlets operate under the names Canna Cabana, KushBar, Meta Cannabis Co. and Meta Cannabis Supply Co. and NewLeaf Cannabis, with additional locations under development across the country. High Tide plans to nearly double its current retail space by the end of 2021. At the same time, the company has a wholesale segment that develops, manufactures and distributes proprietary cannabis consumer accessories and lifestyle products. The segment offers a comprehensive product catalog with over 5,000 SKUs. It also has 10 celebrity licenses. In addition, High Tide Inc. has strengthened its presence with e-commerce platforms such as Grasscity.com, CBDcity.com and SmokeCartel.com. The Canadian cannabis market is of course much smaller than the American one. After all, the United States has about nine times the population of Canada. However, it should be recalled that Canada was the first G7 country to legalize marijuana for recreational use on a national basis. And the Canadian market is booming. According to Statistics Canada, legal retail sales of marijuana in the country will reach C$2.6 billion in 2020, up 120% from 2019. (Source: Retail sales by province and territory (x 1,000), Statistics Canada, last accessed May 7, 2021). As one of the largest retailers in this market, High Tide is showing serious growth. In the first quarter of fiscal 2021, ending 31. During the month of January, the company generated revenues of C$38.3 million, an increase of 179% over the previous year. (Source: High Tide reports financial results first quarter 2021 with 179% revenue growth and record $4.6 million adjusted EBITDA, High Tide Inc, March 31, 2021). The company’s gross profit for the first quarter was C$14.8 million, more than three times the C$4.8 million earned in the prior year. Meanwhile, High Tide reported record adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of C$4.6 million for the first fiscal quarter. This is also a significant improvement over last year, as the company’s adjusted EBITDA in the same quarter last year was still negative (S$800,000). High Tide Inc is targeting the Ontario market (Ontario is Canada’s most populous province) with its expansion plans. The company stated the following: While pandemic-related restrictions have slowed construction in much of the province, the Ontario Liquor and Gaming Commission’s decision of 16… February 2021 urged to increase the number of retail store permits from 20 to 30 per week. The company expects to announce its results by June 30. September 2021 to reach 30 open stores in the county. On that date, the limit on the number of stores a retailer may own is increased from 30 to 75. (Source: Ibid).

High Tide Inc (OTCMKTS:HITIF)Stock chart

word-image-3657 Graph courtesy of StockCharts.com


A look at the chart above shows that the evolution of HITIF stock is similar to that of many other grass stocks. High Tide started to get going late last year and took off in January and early February of this year. It has since reduced these profits somewhat. High Tide Inc. is not the most well-known company in the marijuana industry, but it deserves the attention of marijuana stock investors because of its extensive retail presence and impressive financial results.

pot stockscanopy stockaurora cannabi stocktilray stock,People also search for,Privacy settings,How Search works,pot stocks,canopy stock,aurora cannabi stock,tilray stock

You May Also Like

More Potent, Psychedelic and Spiritual Than Delta 9 THC

The Cannabis plant is a complex organism that has been used for…

Medical cannabis campaigners visit Westminster

The government will announce the details of a new law to give…

Purple Punch from Xtra Gram Sam

Purple Punch from Xtra Gram Sam is a product designed to help…

Top 3 Trends Driving Cannabis Industry in 2021

Despite cannabis legalization, the cannabis industry is still lagging behind in its…