High Tide has expanded its HITI Canna Cabana retail cannabis store to a total of 203 locations across Canada as of July 2025, including recent openings in Cochrane, Cornwall, Brantford, and Drayton Valley. The company has established 82 stores in Ontario and 86 in Alberta. Canna Cabana achieved a 12% market share of the cannabis retail market during February and March, with average store revenues at 2.3 times its peers, reporting approximately $6.8 million in retail sales from April 17 to April 20, 2025.
The legal cannabis market in Canada was valued at $3.25 billion in 2024 and is projected to grow at a CAGR of 12% from 2025 to 2030, bolstered by federal legalization and increased awareness of cannabis health benefits. Ontario’s increased store cap from 75 to 150 per operator significantly impacts High Tide’s growth strategy.
High Tide’s stock has increased by 76.2% over the past year, outperforming the cannabis industry growth of 3.3%. The current forward Price-to-Sales ratio is 0.55X, compared to the industry’s average of 5.60X.
