High Tide (HITI) Surges After Legalisitaion In British Columbia

The cannabis market is expanding every day, as more and more countries are starting to legalize this type of plant. High Trade is one of the most recognizable company’s on the cannabis market. The stock worth of the company has been increasing since last week and the highest jump was today as the company has received approval to serve in British Columbia. The approval allows the company to start applying for a site-specific license.

Legal cannabis sales in British Columbia doubled between 2019 and 2020, according to a recent study by the Canadian Institute for Substance Use Research (CISUR) with a market valuation of $290 million. Furthermore, High Trade won’t stop on it and will expand the use of cannabis among other countries. The company is Canada’s largest seller of recreational cannabis if looked by the revenue amount.

Michael Rowels

Weekend Contributor.Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.