High Tide is Already Up 235% This Year: Will The Rally Continue?

Many cannabis companies have seen their stocks record handsome gains this year so far and one of those is the retail-oriented cannabis company High Tide Inc (CVE: HITI).

The High Tide stock has been one of the major gainers this year so far and managed to deliver gains of as much as 235%. On Wednesday, the company announced its financial results for the first quarter of 2021, which included the three-month period that ended on January 31, 2021.

High Tide managed to generate revenues of as much as $38.3 million for the quarter, which reflects a rise of as much as 179% from the $13.7 million it generated in the year-ago period. On the other hand, gross profits soared to $14.8 million, which works out to a year-on-year rise of 208%. High Tide managed to boost its gross profit margins to 39% as well. In the prior-year period, the gross profit margin was 35%. It now remains to be seen if the stock can add to its gains today.

Emile Ortega

Editor and Computer ExpertA hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.