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High Tide Up 1.9% In US Premarket As Moves to Investigate Potential Manipulation of Its Shares

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High Tide (HITI.V) will retain forensic investigators and share trading surveillance specialists to review trading activity in its shares, the company said on Thursday.

The specialists will focus on activity surrounding High Tide's earnings releases and other disclosure events, it added.

Over more than the last 10 consecutive quarters, despite reporting "exceptional" financial results almost always ahead of analysts forecasts, High Tide's closing share price on the following regular trading day has been lower than the previous day's closing price, a statement said.

The company intends to take "decisive and proactive steps" to fully investigate this matter, and will report its findings to Canadian and U.S. regulators.

High Tide shares were last seen up US$0.05, to US$2.63, in New York trading. They gained more than 8% in both the US and Canada yesterday.

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