HI Brenda,
IMO, HITI is one of the better cannabis stocks out there. What sets it apart is instead of beinga producer, it is focused on cannabis accessories and the retail of recreational cannabis. It has been growing at a rapid pace and it seems like it is announcing new store openings every week. In its latest presentation it had 93 stores across Canada.
Circling to its quarterly results, looked pretty solid. Like the fact it eliminated its secured debt and its convertible debt which will alleviate some dilution overhang. Revenue doubled and while it posted a net loss versus positive EPS last year, I would not read too much into it. As a high growth company, growing the top line is the most important. It also completed several key acquisitions post-earnings including leading online-retailer DankStop which will help increase its presence south of the border
Looking forward, it expects to be at 110 stores by end of year and enter the much desired BC market. That would certainly be a positive development for the company.
I don't think there wree any surprises here. Its been trading sideways for a few months - which isn't necessarily a bad thing - especially in this environment which has punished many smaller-cap growth stocks. I think its a decent hold with decent upside. Mind you, the company will be at the mercy of industry momentum which is prone to some pretty wild bullish and bearish swings. So this is certainly still a risker player.
Mat