Sundial was in danger of violating the conditions under which its stock was listed on the Nasdaq. Throughout most of 2020, Sundial shares had fallen below the $1 price level, and that ran counter to minimum bid price rules the Nasdaq imposes on its listing companies.
Full Answer
Why did sundial growers stock fall 14% on Tuesday?
May 12, 2021 · Why Sundial Growers Stock Tumbled Today. Did This Stock's Management Just Drop a Bombshell? Why Marijuana Stocks Dropped on Thursday. Is Sundial Growers Riskier Than Other Meme Stocks?
Is sundial (SNDL) stock a buy?
Oct 01, 2021 · Nevertheless, this does appear to be how investors are interpreting the Canopy downgrade. As of 12:10 p.m. Friday, Canopy Growth shares were down by 4.9%, shares of Sundial were down by 2.5%, and ...
What are analysts'target prices for sundial growers'stock?
3 hours ago · First, Sundial could sell more cannabis or sell its cannabis products at a higher price. Its gross average selling price did seem to be rising last year, with its …
Should you hold sundial growers (SNDL)?
Apr 13, 2022 · Sundial Growers' stock was trading at $0.91 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, SNDL stock has decreased by 41.6% and is now trading at $0.5310. View which stocks have been most impacted by COVID-19.
Why did sundial Growers stock go down?
Why Sundial Growers Shares Withered by 4% Today During an otherwise good day for the market, the Canadian marijuana company's stock fell by 4% on news that a voluntary ban on share trading by top managers has been accepted by a regulator.
Is Sundial growers a good stock to buy?
Is Sundial a good buy heading into 2022? Sundial Growers is your typical high-risk, high-reward investment. If all goes well next year, it's possible shares of Sundial could double in value.Dec 18, 2021
Is Sundial getting delisted?
SNDL Stock: Sundial Avoids Delisting Previously, Sundial had until Feb. 7 to reach $1 for 10 consecutive days in order to stay listed on the Nasdaq. The Nasdaq gave Sundial this notice last August.Feb 9, 2022
Is Sundial Growers stock expected to rise?
Stock Price Forecast The 2 analysts offering 12-month price forecasts for Sundial Growers Inc have a median target of 0.69, with a high estimate of 0.79 and a low estimate of 0.60. The median estimate represents a +28.27% increase from the last price of 0.54.
Should I sell my SNDL stock?
The consensus among Wall Street analysts is that investors should "hold" Sundial Growers stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SNDL, but not buy additional shares or sell existing shares.
What is the future of Sundial Growers?
Analysts forecast Sundial Growers can increase revenue from CA$73.3 million last year to around CA$705 million in 2022 and as much as CA$1.1 billion by the end of 2024, at which time it will be generating $0.03 per share in profits.Nov 21, 2021
What happens to my stock if its delisted?
Although some brokerages restrict such OTC transactions, you generally can sell a delisted stock just as you would a stock that trades on an exchange. A delisted stock can continue to trade over the counter for years, even if the company files for bankruptcy.Mar 7, 2022
When did sundial growers go public?
Aug 1, 2019Sundial (SNDL) went public on the Nasdaq stock market on Aug 1, 2019 at US$13.00 per share.
Will Sundial go up tomorrow?
Tomorrow's movement Prediction of Sundial Growers Inc SNDL as on 08 Apr 2022 appears strongly Bearish. This stock started falling as soon as it opened and never recovered during the session....Munafa value: 25 as on 08 Fri Apr 2022.Downside target0.54Upside target0.59Upside target0.61Upside target0.643 more rows
Is SNDL a penny stock?
At Friday's close of 53 cents per share, Sundial Growers (NASDAQ:SNDL) is a long way away from the meme-fueled heights reached just 12 months ago.Feb 7, 2022
Will Tilray go up?
That means that it is possible for Tilray to reach $4 billion in 2024 if its trajectory continues as it has. In other words, it doubles in 2022 to reach $1 billion in revenue. That $1 doubles again in 2023, reaching $2 billion, and then again in 2024 to hit the stated $4 billion goal.Jan 4, 2022
The cannabis company is selling its own stock at a rapid clip
Joe honed his investing skills as an analyst for Stock Advisor, Supernova, and Fool One. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns during its existence.
What happened
Shares of Sundial Growers ( NASDAQ:SNDL) fell 14% on Tuesday after the marijuana producer announced a new stock offering.
So what
Sundial Growers said it would seek to raise roughly $74.5 million from the sale of shares and warrants. The offering is expected to close on Feb. 4. The sale comes on the heels of another $100 million share offering that Sundial closed earlier today.
Now what
Although these moves have allowed Sundial to fill its coffers with cash, it has diluted shareholders in the process. Its share count now stands at a staggering 1.52 billion, which will make it exceedingly difficult for Sundial to generate meaningful per-share profits in the coming quarters.
What happened
On a day when Canadian marijuana grower Sundial Growers ( NASDAQ:SNDL) announced it has regained compliance to remain listed on the Nasdaq exchange, shareholders are punishing the stock for a different reason.
So what
Shareholders today are reacting to a shelf registration the company filed with the Securities and Exchange Commission (SEC) yesterday. It will allow the Sundial to issue up to $1 billion in securities, including common shares, preferred shares, and any related guarantees, warrants, rights, and units, over time.
Now what
Some of the recently raised capital was put to work yesterday for an 18.5% stake in Canadian edibles producer Indiva. An almost 300% surge in the share price since the start of 2021 has helped Sundial regain compliance to remain listed on the Nasdaq. It has also brought the company's market capitalization to about $2.8 billion.
Is Sundial Growers a buy right now?
5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Sundial Growers in the last twelve months. There are currently 1 sell rating and 4 hold ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" Sundial Growers stock.
What stocks does MarketBeat like better than Sundial Growers?
Wall Street analysts have given Sundial Growers a "Hold" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Sundial Growers wasn't one of them.
When is Sundial Growers' next earnings date?
Sundial Growers is scheduled to release its next quarterly earnings announcement on Wednesday, November 10th 2021.#N#View our earnings forecast for Sundial Growers.
How were Sundial Growers' earnings last quarter?
Sundial Growers Inc. (NASDAQ:SNDL) issued its earnings results on Thursday, August, 12th. The company reported $0.01 EPS for the quarter. The business earned $7.45 million during the quarter, compared to the consensus estimate of $8 million.
How has Sundial Growers' stock been impacted by COVID-19 (Coronavirus)?
Sundial Growers' stock was trading at $0.91 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, SNDL shares have decreased by 19.3% and is now trading at $0.7340.#N#View which stocks have been most impacted by COVID-19.
What price target have analysts set for SNDL?
5 brokerages have issued 12-month price objectives for Sundial Growers' stock. Their forecasts range from $0.40 to $1.15. On average, they anticipate Sundial Growers' stock price to reach $0.73 in the next twelve months.
What is Torsten Kuenzlen's approval rating as Sundial Growers' CEO?
3 employees have rated Sundial Growers CEO Torsten Kuenzlen on Glassdoor.com. Torsten Kuenzlen has an approval rating of 30% among Sundial Growers' employees. This puts Torsten Kuenzlen in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.
Financial Issues
You know there is a problem when a company does not report its year-over-year sales, but instead its consecutive quarterly sales. For example, in its announcement on Nov. 11 reported Q3 earnings, Sundial said 12.9 million Canadian dollars ($9.88 million), a decrease of 36% over the second quarter.
Cash Balance and Capital Raise
This cannot keep up for very much longer. For example, at the end of Q2, the company had just $CA26.9 million in cash resources. So during Q3, it raised a net amount of $CA21.445 million through a share and warrants sale in U.S. dollars.
What To Do With SNDL Stock
This is a death spiral situation unless sales and cash flow start to immediately turn around. The more capital it tries to raise the lower the stock price will fall.
It Looks Like More of the Same in the U.S
Cannabis stocks are getting a lift from the presidential election. The conventional wisdom is that a Biden administration will usher in the legalization of cannabis in the United States. A first step towards that end would be the passage of the Marijuana Opportunity Reinvestment and Expungement (i.e. MORE) Act.
Investors Have Georgia on Their Mind
But pot enthusiasts may not need to worry about a Republican-led Senate. If the Democrats can win the two contested seats in January’s run-off in Georgia, their party would control both houses of Congress and the White House.
Sundial Growers Stock Is Not a Bargain
For its part Sundial is taking full advantage of the temporary lift in its stock price. On Dec. 4, Sundial announced its intention to sell up to $150 million in shares. That came on the heels of the company making an F-3 Securities and Exchange Commission filing to offer up to $200 million in various securities.