High Tide: An Overlooked Pot Stock Outperforming The Industry
Summary
- The marijuana industry is projected to grow by 32.04% CAGR from 2021 to 2028.
- HITI is an overlooked cannabis option in a struggling industry.
- The company has grown revenues by 155% CAGR over the last three years, outperforming the largest names in cannabis.
- While its competitors have prematurely focused on the American market, HITI has become the largest Canadian retailer in Alberta and is expanding quickly in three other provinces.
- Based on comparison multiples, HITI is very undervalued with an implied share price of USD$12.8, a 92.5% increase from its last closing price of $6.65.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of HITI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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