08:38 AM EST, 12/02/2024 (MT Newswires) -- High Tide (Nasdaq and TSXV: HITI), the second largest cannabis retailer in the world by store count, was at last look up more than 3% at fresh 52 week high levels in US premarket trade on Monday -- having jumped 14% on the Nasdaq last Friday -- after saying it was expanding its Cabana Club membership program beyond Canada to cover the U.S., the European Union, and the UK.

The company also added international snacks and confectionary' category to its hemp-derived CBD and consumption accessories offerings. It also expects to launch new products like mystery snacks and birthday boxes in the coming weeks.

The cannabis retailer expects its U.S. and European e-commerce platforms to break even on revenue and EBITDA within approximately six and 12 months respectively.

"The CBD and consumption accessory markets are still fragmented across the U.S. and Europe, which presents a significant opportunity for High Tide to lead consolidation efforts as we expand our international e-commerce footprint," said High Tide Founder and Chief Executive Officer Raj Grover.

HITI was up 11.3% at $4.43 and hit 52 week highs in Canada last Friday.