Is High Tide Inc. (HITI) Stock Turning Into a Cannabis Growth Story After Record Quarterly Results?

We recently compiled a list of the 12 Best Low-Priced Pharma Stocks to Buy Right Now. High Tide Inc. (NASDAQ:HITI) is one of the best low-priced pharma stocks on this list.

TheFly reported on June 15 that HITI reported record second-quarter fiscal 2026 financial results. The corporation reported that its revenue increased 30% year over year to $179.3 million, while gross profit climbed 36% to $48.4 million, with gross margin improving to 27%. Adjusted EBITDA reached a record $13.9 million, up 73% from the prior year, and income from operations rose 554% to $6.1 million. The company also generated $1.5 million in free cash flow and reported positive net income. Meanwhile, Cabana Club membership surpassed 2.65 million, and the Canna Cabana retail network expanded to 221 stores across Canada.

Is High Tide Inc. (HITI) Stock Turning Into a Cannabis Growth Story After Record Quarterly Results?

Additionally, on the same day, High Tide Inc. (NASDAQ:HITI) entered into a definitive agreement to acquire 100% of J. Supply Holdings Inc., operating as Northern Helm, in a transaction valued at $7.74 million. The deal includes four cannabis retail stores in Ontario and is expected to expand the company’s Canna Cabana network to 228 locations nationwide, including 103 stores in Ontario. The acquisition consideration consists of approximately $3.2 million in assumed debt, about $1.83 million in cash, and roughly $2.75 million in High Tide common shares. The purchase price represents 4.5x the stores’ annualized adjusted EBITDA.

High Tide Inc. (NASDAQ:HITI) is a cannabis company operating retail, e-commerce, and medical distribution businesses. As Canada’s largest cannabis retailer, it is expanding internationally, including into Germany’s medical cannabis market.

While we acknowledge the risk and potential of HITI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HITI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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