- The stock price of Sundial Growers Inc (NASDAQ: SNDL) increased by 28.91% today. This is why it happened.
The stock price of Sundial Growers Inc (NASDAQ: SNDL) increased by 28.91% today as it went from a previous close of $1.28 to $1.65. Investors appear to be responding to some sympathy plays.
One of the sympathy plays appears to involve Canadian cannabis company Canopy Growth reporting that it is expecting a profit by the second half of 2022 and its stock price surged as high as about 16% before closing up 11.9%. Canopy Growth has been seeing momentum with its Martha Stewart CBD products line in just four months after launching as the brand also recently deployed CBD pet products.
Another sympathy play also involves Tilray seeing its stock price surge today upon announcing that it established an agreement with Grow Pharma to import and distribute Tilray’s medical cannabis products into the United Kingdom.
Investors are also excited about potential U.S. cannabis legalization under the new Biden administration.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
Recent Comments