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High Tide Inc
Symbol HITI
Shares Issued 232,542,271
Close 2020-07-29 C$ 0.15
Recent Sedar Documents

Globe says Echelon rates High Tide "speculative buy"

2020-07-30 07:47 ET - In the News

The Globe and Mail reports in its Thursday, July 30, edition that Echelon Capital Markets analyst Andrew Semple says High Tide is "well-positioned to capitalize on the Canadian cannabis retail opportunity." The Globe's David Leeder writes that Mr. Semple points to the success of its Canna Cabana retail concept elsewhere. Accordingly, Mr. Semple began coverage with a "speculative buy" call and 35-cent share target. Mr. Semple says in a note: "In Ontario -- perhaps the most attractive investment opportunity in the entire Canadian cannabis industry -- High Tide has obtained more licenses than any independent cannabis retailer to date. In Alberta, its stores generate sales that are approximately 40-50 per cent above the provincial average. Proof that the company's business model is working was demonstrated in its FQ220 results, where sales/store reached $2.2-million (the highest amongst peers) and High Tide became the first pure-play Canadian cannabis retailer to report positive adjusted EBITDA. We anticipate a sequential improvement to both metrics in FQ320 results. We believe High Tide will build on these initial successes, extracting further benefits from operating leverage and economies of scale.

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