High Tide rises as quarterly revenue beats estimates
16/06/2026 13:09
BUZZ-High Tide rises as quarterly revenue beats estimates ** U.S.-listed shares of Canadian cannabis firm High Tide HITI.V rise 16% to $2.61 premarket
** HITI, on Monday, reported quarterly revenue of C$179.30 mln, beating analysts' average estimate of C$171.17 mln - LSEG-compiled data
** Co says German medical cannabis unit, Remexian (supplier of cannabis for patients), drove higher margins and volumes
** Says it will acquire four Ontario cannabis stores for C$7.74 mln, including debt
** Adds profit growth supported by cost efficiencies from Remexian integration
** Says Canadian retail business outperformed sector with loyalty program gains
** As of last close, stock down ~15% YTD
($1 = 1.4290 Canadian dollars)
(Reporting by Sahil Pandey in Bengaluru)
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