Why is High Tide (HITI) Stock Going Volatile?

By becoming for the first time public major retailer trading cannabis on NASDAQ, the HITI (renamed from HITID) has received approval from investors surging during the last week from $7.56 to $9.45. Should Investors keep stock and rely on a long-term perspective? But yesterday HITI dropped 4.75% amid a quick sell-off from some day traders.

Why is High Tide (HITI) Stock Going Volatile?

The Nasdaq listing is expected to enhance the number of retail and institutional investors attracted to High Tide. Furthermore, the Company wants to expand liquidity for its Common Shares and, as a result, reduce its cost of capital, once it has access to a much wider capital market.

Related:  Modern (MRNA) Is In Strong Uptrend: How To Trade in June?

Today, the company’s shares fell to $9, but this is not an indicator, as the company has proven its long-term stability. The expansion of production and distribution of consumer accessories at the new Canna Cabana retail store, located at 7400 Macleod Trail SE, is expected to boost the company’s stock in the coming quarter.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.