Menashe

Menashe Kestenbaum | Advice for Entrepreneurs. Founder of $1.4B NASDAQ company, Angel Investor, VC

[Menashe @RavMenace]

I just bought another $40k of $HITI stock. Last month I bought as well, shortly after becoming a director. #InsidersBuying

[Menashe @RavMenace]

@WorldWideWob I’m proud of them! Unfortunately we lacked depth (and a proper center) but we showed that we had grit and can punch above our weight. There is potential to invest in for the future

[Menashe @RavMenace]

I made a new Bahamian friend

[Menashe @RavMenace]

@Think1019 Is there still an active $HITI discord group?

[Menashe @RavMenace]

@JhonBrown94 Seems like a smart move. It definitely appears to be market manipulation

[Raj Grover 🇨🇦 @RajGrover_HITI]

Strong start to FY2026 for High Tide.

$178.3M revenue (+25% YoY, fastest growth in 10 quarters), record gross profit, $11.5M Adjusted EBITDA and positive free cash flow.

Cabana Club 2.58M members | 162K+ ELITE (+100% YoY).

Remexian exceeding expectations and ecommerce stabilizing.

🚀🌿 $HITI

[Cash Flow Kings @CashFlowKingsYT]

$HITI EARNINGS
▪Revenue $178.3M (+25% YoY)
▪Gross profit $44.4M (+25% YoY)
▪Adjusted EBITDA $11.5M (+62% YoY)
▪Free cash flow $2.9M (improved from -$1.9M)
▪Cabana Club Canada membership 2.58M (+47% YoY)
▪Remexian medical revenue contribution €7.5M sale in Feb (C$12M)

[MrMontaguti @MrMontaguti]

After the reaction to my tweet on $HITI and Remexian Pharma, I wanted to share a more detailed view on why I believe High Tide Inc. may be one of the most asymmetric opportunities in the market.

I've been an investor for quite some time, and throughout that journey my goal has always been the same: identifying companies with significant revenue growth potential, typically in the tech sector. I also believe that sector momentum and the broader macro environment carry almost as much weight as a company's intrinsic potential. A clear example: $PLTR in 2021 had everything it needed to become an exceptional company — yet anyone who invested in February of that year didn't see returns until late 2024.

Being able to identify that upside potential and read momentum comes from years of experience and study. Which is why I can say today that I bought $PLTR at $6, $HOOD at $7, $IREN at $6, and $OSS at $2 — and that I maintain a private Savvy Trader account up +379.12%, started in August 2024 (with a 50% discount on the annual subscription, by the way).

Momentum in $HITI's industry is difficult to gauge, particularly in the United States. In Europe, however, progress is already visible. Even setting momentum aside, the upside potential of $HITI feels hard to ignore.

As @RajGrover_HITI noted, Remexian's long-term targets in Germany are ambitious: over €150M in revenue and over €30M in EBITDA, at margins of approximately 15%. Add to that the potential expansion into the UK, and other countries.

Looking at High Tide Inc.'s P/S ratio, it currently sits around 0.5. How long can this valuation disconnect persist? The company's projections speak for themselves:

1. Revenue growth of +20% annually by 2026 — and that's being conservative.
2. A target market share of 15% for its Canna Cabana stores in Canada over the next two to three years, with an adjusted EBITDA margin of 12%.
3. Currently at 151,000 ELITE members in Canada (up 107% YoY and 31% QoQ), with a target of 1 million members, as Raj outlined in his MicroCapClub interview.
4. A growing foothold driven by the company's direct expansion in Europe and by strengthening commercial relationships with Canada distributors exporting to the continent.

When a company combines recurring revenues with market leadership in its core market, margins expand, M&A opportunities multiply, and its competitive position becomes increasingly difficult to replicate.

In short: as an investor, even having had positions that returned 10x or 20x, I believe the risk-reward profile of $HITI compares favorably to most of them, not because I'm expecting a 20x overnight — but precisely because the downside feels so limited while the upside could be extraordinary. That's what makes $HITI one of the most compelling asymmetric bets for 2026-2027, in my view.

Have a great weekend, all.

[Raj Grover 🇨🇦 @RajGrover_HITI]

@RavMenace Thank you Menashe! We’re thrilled to have you join the board. Your experience building communities and scaling digital platforms will be incredibly valuable as High Tide continues to grow. Looking forward to building the next chapter together. 🙏👊

[Menashe @RavMenace]

@DreezyLive New gaming company going public... I wonder if Dreezy is also involved 🤔🤔 😉

[Menashe @RavMenace]

I'm excited to announce that I've joined the Board of Directors of High Tide (NASDAQ: $HITI) !!

What drew me in wasn’t the sector.

It was the business underneath it.

High Tide has quietly built a very real retail platform:

• 220 stores across Canada

• Over $2B in cumulative cannabis sales since inception

• ~$650M annual revenue run-rate

• $153M gross profit and $38M adjusted EBITDA

• 22 consecutive quarters of positive adjusted EBITDA and free cash flow

Yet today the company trades at roughly 0.47x price-to-sales, compared to about 3.37x across the S&P 500.

But the thing that really caught my attention wasn’t the financials and the technicals.

It was the model.

High Tide has built something that feels a lot like the Costco of cannabis- a membership-driven retail ecosystem with more than 2.2M loyal Canna Cabana members.

That’s a serious community.

And communities are something I know a bit about.

At Enthusiast Gaming, we learned how powerful passionate audiences can be - and how technology and data can turn those audiences into scalable businesses.

Through LeverageVC, working alongside the extremely talented Meir Bulua and David Rabinovici, we’ve also spent years looking at companies in AI, data infrastructure, ecommerce, and advertising technology.

Which is why High Tide feels particularly interesting.

Because underneath the retail footprint is something bigger:

A data platform with stores attached.

That opens the door to some fascinating opportunities around AI and ecommerce.

There’s also an interesting overlap with my work in mental health through Glimmer, as High Tide expands into medical cannabis distribution in Europe, including Germany. The therapeutic side of the industry is still evolving, and I’m curious to see where that intersection goes.

Most importantly though - @RajGrover_HITI is the real deal.

He’s a founder who started from the ground floor, not a suit dropped in later. He’s navigated one of the most chaotic sectors in public markets and built a real business with discipline and integrity.

Whenever there’s a hype cycle - cannabis had a big one a few years ago - the crash tends to wipe out most companies.

The survivors are the ones that actually built something real.

High Tide looks like one of those companies.

And if regulatory doors open further in the U.S. or Europe, the upside could get interesting.

On a personal note, it’s also fun to be back in the energy of working closely with a NASDAQ company again.

I’m also currently serving as a director of another company preparing to go public in the gaming space (more on that soon), and Glimmer will have some exciting news of its own in the near future.

Lots happening.

Grateful to be part of the journey.

[Menashe @RavMenace]

@BlakeMurphyODC @carpenter_33755 Eh, no harm no foul. I love all the work you do. I just misunderstood

[Menashe @RavMenace]

@carpenter_33755 @BlakeMurphyODC I read it like you did.

[Nick shirley @nickshirleyy]

🚨 Here is the full 42 minutes of my crew and I exposing Minnesota fraud, this might be my most important work yet. We uncovered over $110,000,000 in ONE day. Like it and share it around like wildfire! Its time to hold these corrupt politicians and fraudsters accountable

We ALL work way too hard and pay too much in taxes for this to be happening, the fraud must be stopped.

[Menashe @RavMenace]

@TheAdam027 This is good to hear. I prayed for you when you gave me your tehilim name

[Menashe @RavMenace]

@DebbieSchlussel @TheAdam027 I would like to know this as well. Hebrew name and Hebrew name of your mother

[Menashe @RavMenace]

@jacklanger Tehillim name?

[Menashe @RavMenace]

Investor: What's the strategy?

Founder: AI!

Investor: No, that's the tool. What's the strategy?

Founder: Apply AI to everything!

Investor: Okay - but to what end?

[Menashe @RavMenace]

@Zamani_zango Your DMs are locked. Try to DM me first

[Menashe @RavMenace]

I’m looking for someone in the mental health industry who can be my content and community operations lead.

If you think you’re a candidate or know someone who is, please reply to this thread

[Menashe @RavMenace]

@Zamani_zango Will DM you