High Tide Starts Selling Cannabis Seeds In US; Stock Up In Pre-market

(RTTNews) - High Tide Inc. (HITI), a retail-focused cannabis company, said on Tuesday that it has started selling cannabis seeds in the U.S. following the American Drug Enforcement Agency's recent official move that the seeds fall under the legal definition of hemp and can therefore be sold openly in the country.

The company is selling these seeds through its e-commerce platforms Grasscity and Smoke Cartel. It also plans to expand seed sales to additional online retail platforms within its portfolio in 2023.

Raj Grover, CEO of High Tide, said: "…This new business venture will greatly expand our U.S. customer base, which already sits at 2.4 million through our ancillary cannabis business lines, and sets us up well to take advantage of federal legalization in the United States when it comes."

HITI was trading up 4.58 percent at $1.60 per share in pre-market on the New York Stock Exchange.