Can High Tide (HITID) stock Move Back To New Highs In June?

When a company gets the opportunity to list its shares in a large...

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When a company gets the opportunity to list its shares in a large exchange then it is regarded as a major boost for the stock and that is what has happened with the High Tide Inc (OTCMKTS:HITID) stock on Friday. This past Friday the company announced that it got approval for listing its shares on the NASDAQ Capital Market.

The High Tide share is going to start trading on NASDAQ from June 2, 2021 under the ticker sign ‘HITI’. Considering the fact that NASDAQ is one of the biggest stock market exchanges in the world, the stock is going to get exposed to a much larger pool of capital and investors.

Hence, it goes without saying that it is a major development for High Tide and resulted in a considerable optimism among market participants. In this regard, it is also necessary to note that High Tide has been one of the better performers in the cannabis sector this year so far and has clocked gains of 190% in the period. While the stock is all set to be listed on NASDAQ, it is also important to note that the High Tide stock is going to continue to trade on the TSX Venture Exchange concurrently.

The Chief Executive Officer and President of the company Raj Grover spoke about the listing as well. He said that it is a major success for High Tide that it managed to be listed on NASDAQ in less than three years since its establishment as a company.

In addition to that, he went on to state that High Tide is also going to become the first major publicly trade cannabis retail company to trade NASDAQ. In addition to the exposure to a vast pool if investors, the listing is also going to make it easier for institutional investors to get involved with High Tide and that is another reason why it is a major development.

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