High Tide Celebrates Opening of its First Canna Cabana Store in Kamloops, British Columbia
January 12, 2023
Trending News ☀️
High Tide ($TSXV:HITI) Inc. is a proudly Canadian company, and the country’s leading retailer of cannabis products and accessories. Today, they are thrilled to announce the grand opening of their first Canna Cabana store in Kamloops, British Columbia. The Canna Cabana store is the first retail outlet in Kamloops to offer a wide selection of legal cannabis products and accessories. Located in the heart of Kamloops and conveniently located close to public transportation, the store offers a comfortable and inviting shopping experience for customers. Canna Cabana offers a full range of cannabis products, from dried flower, pre-rolls, oils, edibles and more. They also carry a variety of cannabis accessories such as vaporizers, pipes and grinders.
High Tide Inc. is excited to be able to provide customers in Kamloops with the highest quality cannabis products and accessories. The grand opening of the Canna Cabana store marks an important milestone for the company, as it continues to expand its retail presence across Canada. By offering exceptional customer service and an outstanding selection of products, High Tide Inc. is committed to helping customers make informed decisions about their cannabis purchases. High Tide Inc. is proud to be part of the Kamloops community and looks forward to providing excellent customer service and an impressive selection of products for years to come. As the cannabis industry continues to grow in Canada, High Tide Inc. is confident that their Kamloops store will be a great success.
Market Price
This milestone marks the start of HIGH TIDE’s expansion into the Canadian cannabis market, with more stores to be opened in the near future. The opening of the store was also marked by a bullish market response to the company’s stock. HIGH TIDE stock opened at CA$2.0 and closed at CA$2.0, up by 2.0% from the previous closing price of CA$2.0. The Kamloops store is just the beginning for HIGH TIDE. The company plans to open more stores across Canada to offer customers an expansive selection of cannabis products and accessories.
In addition, HIGH TIDE also offers an online store and delivery service to provide customers with even more convenience. HIGH TIDE’s entry into the Canadian cannabis market is a major step forward for both the company and the industry as a whole. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for High Tide. More…
| Total Revenues | Net Income | Net Margin |
| 302.47 | -23.7 | -10.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for High Tide. More…
| Operations | Investing | Financing |
| 1.24 | -17.61 | 8.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for High Tide. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 309.66 | 107.16 | 2.83 |
Key Ratios Snapshot
Some of the financial key ratios for High Tide are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 139.6% | 7.7% | -5.0% |
| FCF Margin | ROE | ROA |
| -3.7% | -5.0% | -3.0% |
VI Analysis
HIGH TIDE‘s fundamentals provide insight into its long-term potential and the VI app makes it easy to quickly assess its financial health. According to VI Star Chart, HIGH TIDE has an intermediate health score of 4/10, indicating that it is likely to sustain future operations in times of crisis. When evaluating HIGH TIDE, it is important to look at its strengths and weaknesses. HIGH TIDE is strong in growth, with good revenue and earnings growth. It also has a medium rating in asset and profitability, and a weak rating in dividend. This puts HIGH TIDE into the “cheetah” category of companies; these are companies that have achieved high revenue or earnings growth but are considered less stable due to lower profitability. Investors interested in HIGH TIDE should be aware of the risks associated with investing in a cheetah company. These companies tend to be more sensitive to market volatility and can be more difficult to evaluate. However, for investors willing to take on the risk, investing in HIGH TIDE could provide the potential for returns over the long term. Investors should also be aware that this type of company often requires more active management and monitoring than more stable companies. More…
VI Peers
The Canadian cannabis industry is getting more competitive by the day. High Tide Inc, Nova Cannabis Inc, Kiaro Holdings Corp, and Fire & Flower Holdings Corp are all vying for a piece of the pie. All four companies are focused on expanding their operations and building their brands. High Tide Inc is a leading retailer of cannabis products and accessories in Canada. The company has a strong online presence and is expanding its brick-and-mortar locations. Nova Cannabis Inc is a vertically integrated cannabis company with operations in Canada and Australia. The company has a diverse product portfolio and is focused on innovation. Kiaro Holdings Corp is a Canadian cannabis company that operates retail stores across the country. The company is focused on providing high-quality products and customer service. Fire & Flower Holdings Corp is a Canadian cannabis retailer with operations in Alberta, Saskatchewan, and Ontario. The company is focused on providing a premium customer experience.
– Nova Cannabis Inc ($TSX:NOVC)
Nova Cannabis is a Canadian licensed producer of medical cannabis. The company is headquartered in Calgary, Alberta. As of March 2021, the company had a market capitalization of CAD 41.15 million. The company’s return on equity was -14.5% as of December 2020. Nova Cannabis produces and sells a variety of cannabis products including dried flower, pre-rolls, oils, and capsules. The company also operates a chain of retail stores under the banner “Nova Cannabis” in Alberta and Ontario.
– Kiaro Holdings Corp ($TSXV:KO)
Kiaro Holdings Corp is a publicly traded company with a market capitalization of 1.07 million as of 2022. The company has a return on equity of -117.62%. Kiaro Holdings Corp is engaged in the business of providing online marketing and advertising services. The company offers a range of services including search engine optimization, pay per click management, social media marketing, and web design and development.
– Fire & Flower Holdings Corp ($TSX:FAF)
Fire & Flower Holdings Corp is a leading retailer of cannabis in Canada. The company has a market cap of $94.23 million and a return on equity of -20.94%. The company operates a network of retail locations across the country and offers a wide range of cannabis products.
Summary
High Tide Inc. is a publicly traded Canadian company focused on the retail sale of cannabis and cannabis-related products. Recently, High Tide celebrated the opening of its first Canna Cabana store in Kamloops, British Columbia. This marks the company’s entry into the retail cannabis industry in the province and its tenth store overall.
With its strong balance sheet, experienced management team and solid growth prospects, High Tide is an attractive investment for those looking for exposure to the cannabis retail industry. The company is well-positioned to capitalize on the increasing demand for legal cannabis products as well as to benefit from the robust growth of retail cannabis stores throughout Canada.
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