The S&P 500 and the Nasdaq are trading below their 50-day moving averages for the first time in 2024. Yet the bulls are still in control since a larger pullback was due following the strong run off the market’s October 2023 lows.Wall Street will likely have to hold its ground soon or risk a wider downturn to the 200-day. Thankfully, the Nasdaq and the S&P 500 have already cooled off significantly from heavily overbought RSI levels in late 2023 and early 2024 to below neutral.On top of that, any meaningful p ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about High Tide Inc. (HITI) .High Tide currently has an average brokera ...

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated August 31, 2023, to its short form base shelf prospectus dated August 3, 2023. CALGARY, AB, April 12, 2024 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that the Company and Sergio Patino have agreed to tran ...

These Marijuana Stocks Could See Higher Trading Levels This MonthMarijuana stock investors are starting to see the effects of how volatility plays a big part in the sector. This past week of trading has shown a slight increase in momentum. Much of which is based on improving rules and regulations in the cannabis industry. As well as other areas of business in the form of better quality control for cannabis.Plus the increase in production of the growing demand for cannabis products. All of the above contribu ...

Have you been paying attention to shares of High Tide Inc. (HITI) ? Shares have been on the move with the stock up 55.8% over the past month. The stock hit a new 52-week high of $2.69 in the previous session. High Tide Inc. has gained 60.1% since the start of the year compared to the 5.9% move for the Zacks Medical sector and the 5.9% return for the Zacks Medical - Products industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed our earning ...

Already the Second Largest Cannabis Retailer in North America by Store Count, The Company Now Becomes the Largest Cannabis Retailer in Canada's Fastest Growing City CALGARY, AB, April 4, 2024 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis store located at 2901 Eglinton Avenue West, Mississ ...

Financial Data and Key Metrics - Revenue for Q1 2024 was $128.1 million, up 8% year-over-year and 1% sequentially, with brick-and-mortar revenue leading the growth at 16% year-over-year [25][41] - Adjusted EBITDA reached a record $10.4 million, up 25% sequentially and 90% year-over-year, with a margin of 8.1%, up from 4.7% in Q1 2023 [17][20] - Free cash flow was $3.6 million in Q1, marking a significant improvement from negative $847,000 a year ago, with $13.3 million generated over the last three quarters [15][21][26] - Income from operations was positive $2.8 million, a significant improvement from a loss of $3.9 million in Q1 2023, and the company broke even on net income [21][24] Business Line Performance - The brick-and-mortar segment grew 16% year-over-year, contributing over 90% of total revenue, with same-store sales up 7% year-over-year [25][40][42] - E-commerce revenue declined, weighing on consolidated revenue growth, but the segment maintained positive EBITDA similar to a year ago [17] - ELITE membership grew to over 32,000 paid members, with ELITE offerings now representing 12% of in-store inventory, up from less than 2% a year ago [16] Market Performance - In Ontario, the largest market, the average Canna Cabana store achieved a $3.5 million annual revenue run rate, 3.1x higher than the provincial peer average of $1.2 million [18] - Total sales in the five provinces where the company operates were down 6% sequentially, but the company outperformed the market with consistent same-store sales [18] Strategy and Industry Competition - The company focuses on generating positive free cash flow and organic growth, with plans to reaccelerate store expansion, particularly in Ontario, targeting 20-30 new stores this year [15][38][66] - The acquisition of the Queen of Bud brand for $1 million is expected to enhance the company's product portfolio and margins, with plans to expand the brand internationally [22][79][80] - The company aims to increase ELITE membership offerings to 20-30% of in-store inventory, leveraging its discount club model to drive customer loyalty and higher margins [16][89] Management Commentary on Operating Environment and Future Outlook - Management highlighted the inflationary environment and slower holiday sales as factors impacting the overall market, but the company's discount club model continues to outperform [55] - The company is optimistic about M&A opportunities in 2024, though the pace has been slower due to a lack of quality acquisition targets [38][105] - Management expects to reach double-digit adjusted EBITDA margins in the long term, driven by cost controls, scale, and the discount club model [17][20] Other Important Information - General and administration expenses fell to $5.6 million, the lowest in nine quarters, representing 4.4% of revenue, down from 6.3% in Q1 2023 [19][51] - The company ended the quarter with $28.7 million in cash and total debt of $28.4 million, with a debt-to-EBITDA ratio of 0.7x [52] - The company was named to the TSX Venture 50 list for the second time in three years, reflecting its strong performance in the cannabis retail sector [49] Q&A Session Summary Question: Impact of potential excise tax reduction on the business [3] - The company is monitoring potential excise tax changes, which could benefit the industry by improving the financial health of licensed producers (LPs) [4][5] Question: Gross margin improvement drivers [54] - Gross margin improvement was driven by the Cabanalytics platform and ad revenue, with the company maintaining a neighborhood-specific gross margin strategy [54] Question: Market softness and recovery trends [55] - The company noted a slowdown in retail sales due to inflation but remains confident in its discount club model, which outperformed the market [55] Question: Excise tax enforcement and its impact on Cabanalytics [57] - The company is monitoring stricter excise tax enforcement but expects its data analytics platform to offset potential near-term pressures [57][58] Question: Brand strategy and Queen of Bud acquisition [59][79] - The acquisition of Queen of Bud is part of the company's strategy to expand its brand portfolio, with plans to leverage the brand internationally and improve margins [79][80] Question: Ontario store expansion and market saturation [66] - The company plans to add 20-30 stores in Ontario this year, focusing on high-quality locations despite market saturation [66][86] Question: ELITE membership and inventory management [88][90] - ELITE membership growth is accelerating, with inventory allocation increasing to 12%, and the company maintains tight inventory control with cannabis inventory days on hand at 16-17 days [88][90][91] Question: Free cash flow and M&A outlook [100][104] - Free cash flow is expected to be lumpy due to working capital requirements, but the company remains focused on maintaining positive free cash flow while pursuing selective M&A opportunities [100][104][105]

Exhibit 99.1 Condensed Interim Consolidated Financial Statements For the three months ended January 31, 2024 and 2023 (Stated in thousands of Canadian dollars, except share and per share amounts) (Unaudited) High Tide Inc. Condensed Interim Consolidated Financial Statements For the three months ended January 31, 2024 and 2023 Condensed Interim Consolidated Financial Statements for the three months ended January 31, 2024 and 2023. The accompanying unaudited condensed interim consolidated financial statements ...

Our next question comes from Scott Fortune with ROTH MKM. Raj Grover Doug Cooper Raj Grover So all of those boxes are checked now and we are back to growth. Growth always excites me. This is not our end game to generate $4 million, $5 million in free cash flow. And we are a dominant player in Canada. We want to retain our market leading position. So you're going to see us add 20 to 30 stores in calendar 2024. I don't think we'll have any problem doing so. And it will be more focused on an organic versus M&A ...

High Tide Inc. (NASDAQ:HITI) Q3 2023 Earnings Conference Call September 15, 2023 11:30 AM ET Company Participants Krystal Dafoe - Director, Corporate Governance & Listing Raj Grover - Founder, President & CEO Sergio Patino - CFO Conference Call Participants Matt Bottomley - Canaccord Genuity Andrew Partheniou - Stifel Nicolaus Canada Inc. Scott Fortune - ROTH MKM Frederico Gomes - ATB Capital Markets Andrew Semple - Echelon Wealth Partners Operator Good morning. My name is Carla, and I will be your conferen ...