Why Is High Tide Stock Gaining Tuesday? - High Tide (NASDAQ:HITI)

High Tide Inc.

(NASDAQ:HITI) stock is trading higher in Tuesday's session after the cannabis retailer reported record second-quarter financial results and announced an acquisition and a new credit facility.

Record Revenue And Profitability High Tide reported adjusted earnings of 1 cent per share, compared with a loss of 3 cents per share a year earlier.

Revenue rose to $130.7 million from $96.9 million.

In Canadian dollars, revenue reached a record 179.3 million Canadian dollars, up 30% year over year and 1% from the prior quarter.