In contrast, Sundial Growers has proven to be a laggard among cannabis producers. Companies such as Canopy Growth and Tilray are among the early leaders in the cannabis space and their stocks are finally being appreciated by investors. With the entire sector enjoying success right now, there are plenty of other options for investors than the volatile and risky Sundial Growers stock. Several cannabis stocks, including Canopy Growth (NASDAQ: CGC), Tilray (NASDAQ: TLRY) and Aphria (TSE: APHA) are each up more than 50% so far in 2021. states move closer to legalizing cannabis, and with a Democratic administration taking the reins of power in Washington, D.C., expectations for cannabis are again running high (pun intended). The American Cannabis Operator Index rose nearly 25% in January, marking its fourth consecutive monthly gain.Īs several U.S. The cannabis sector, and a host of cannabis stocks, have been performing strongly so far this year. In the third quarter of 2020, Sundial Growers revenue was 62% lower than in the same period of 2019. Sundial Growers Chief Executive Officer has since resigned and the company’s financial position remains precarious. The company has been hit with multiple lawsuits from distributors, as well as a class-action lawsuit from consumers who claim the cannabis provided by Sundial Growers is of poor quality and even contained rubber in it. However, SNDL stock has fallen steeply since its IPO for good reason. The company has until June to keep its share price above $1 for 10 consecutive trading days, or longer, to avoid being delisted.
Other than issuing new stock to take advantage of the recent appreciation of its share price and saying that it plans to focus on “premium” cannabis products going forward, Sundial Growers has not made any significant announcements. What Else Is New?īeyond SNDL stock being targeted and run up by the Robinhood crowd, nothing else appears to be new with the Canadian company that produces and distributes cannabis pre-roll and vape products. Sundial Growers has tried to capitalize on the situation by selling more stock. Sundial Growers stock has been one of the securities that Robinhood has limited trading in due to extreme volatility. While the share price has recovered some in recent weeks, it’s more akin to the stock struggling to get up off the mat than to the stock staging an epic comeback for investors.Īdding to the uncertainty and volatility surrounding SNDL stock are reports that it has become a “Robinhood play” and targeted by the same traders that have sent retailer GameStop’s (NYSE: GME) share price to ridiculous levels. The stock is at risk of being delisted by the Nasdaq exchange. In the past 18 months, Sundial Growers stock has fallen nearly 100% to an all-time low of just $0.14 a share.
However, since then, Sundial Growers stock has been crushed under the massive disappointment that has followed Canada’s ill-fated cannabis legalization. 7 Blue Chip Stocks to Help Prepare For Your Retirement
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