24/7 Market News Snapshot 25 November, 2024 – High Tide Inc. Common Shares (NASDAQ:HITI)

November 25, 2024

DENVER, Colo., 25 November, 2024 (247marketnews.com) – (NASDAQ:HITI) are discussed in this article.
High Tide Inc. (HITI) experienced a significant boost today, trading at $2.905, a notable increase of 9.62% from the previous closing price of $2.650. The heightened investor interest is evidenced by a trading volume of 1.42 million shares, signaling a potentially strong bullish momentum. Observers are advised to monitor critical resistance levels around $3.00, while support is expected near $2.70, indicating a positive outlook for the stock if current trends persist.

In conjunction with its impressive stock performance, High Tide is excited to announce the opening of its latest Canna Cabana retail cannabis store, located in a thriving shopping complex. This marks the 188th Canna Cabana outlet across Canada and the 74th in Ontario, expanding its presence in the Toronto area with 11 store locations. Strategically positioned near a major transit hub, the new store aims to cater to a growing population, ideally serving around 20,000 residents within a one-kilometre radius. This initiative underscores High Tide’s commitment to accessibility and consumer engagement.

Raj Grover, Founder and Chief Executive Officer of High Tide, expressed enthusiasm for the store’s launch in Scarborough, highlighting its significance in one of Canada’s most diverse communities. He emphasized the company’s strategy of securing prime real estate in high-traffic areas to meet the evolving needs of its customers. High Tide’s innovative retail approach and strong emphasis on e-commerce continue to facilitate growth and free cash flow generation, reinforcing the foundation for future expansions. The Company looks forward to delivering an exciting array of products and services designed to enhance the cannabis consumption experience in its new location, showcasing its status as a leading cannabis retailer in Canada.

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