There is no fundamental reason why Sundial's stock price more than doubled this morning. The cannabis company didn't issue a press release or make any major announcements today. Instead, the likely culprit for today's massive price swings in Sundial's shares appears to be an attempt at a short squeeze.
Full Answer
Is sundial growers positioning itself for a buyout?
1 day ago · Shares of Canadian cannabis company Sundial Growers ( SNDL -7.08% ) tanked today after the company released a new Securities and Exchange Commission (SEC) filing yesterday. Sundial shares were ...
Should you buy sundial growers on the dip?
Feb 10, 2021 · Sundial's shares are up a staggering 555% so far in 2021. The marijuana company has become a trendy investment among traders on Reddit and other social media sites. In recent days, Sundial has ...
Is sundial growers too cheap to pass up?
Apr 14, 2022 · Apr. 14, 2022, 11:26 AM. Shares of Canadian cannabis company Sundial Growers (NASDAQ: SNDL) tanked today after the company released a new Securities and Exchange Commission (SEC) filing yesterday ...
Will SNDL stock go up?
Jan 28, 2021 · There is no fundamental reason why Sundial's stock price more than doubled this morning. The cannabis company didn't issue a press release or make any major announcements today. Instead, the likely...
Why is Sundial Growers stock rising?
Sundial Is Focused on Acquisitions According to Sundial management, the company's main objective is to increase the value of its shares to focus on improving its liquidity and cost of capital in the long term.Feb 28, 2022
Is Sundial growers expected to go up?
The 5 analysts offering 12-month price forecasts for Sundial Growers Inc have a median target of 0.80, with a high estimate of 0.96 and a low estimate of 0.60. The median estimate represents a +34.18% increase from the last price of 0.59.
Is Sundial growers bullish?
The market has been high on Sundial Growers Inc (SNDL) stock recently. SNDL gets a Bullish score from InvestorsObserver Stock Sentiment Indicator. Sundial Growers Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on SNDL!Mar 18, 2022
Should I hold sundial Growers stock?
The consensus among Wall Street research 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.
Will Sundial go up tomorrow?
There's a good chance that this downfall will continue tomorrow as well. However, if it manages to close higher than where it opened today, then there might be a chance of reversal....Munafa value: 25 as on 08 Fri Apr 2022.Downside target0.54Upside target0.59Upside target0.61Upside target0.643 more rows
Is SNDL a good buy right now?
During the day the stock fluctuated 10.07% from a day low at $0.56 to a day high of $0.62....Predicted Opening Price for Sundial Growers Inc. of Wednesday, April 13, 2022.Fair opening price April 13, 2022Current price$0.59$0.57 (Undervalued)
What is sundial growers company?
Sundial Growers Inc. is a Canada-based company that is engaged in the business of production, distribution and sale of cannabis in Canada. The Company's segments include Cannabis Operations, Cannabis and Liquor Retail and Investment Operations.Apr 1, 2022
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The analysts following Tilray expect it to perhaps double its 2021 revenues in fiscal 2022. 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.Jan 4, 2022
Why is OCGN stock down?
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Why did sundial Growers stock fall?
Why Sundial could crash The company is a dilution machine, and between share issues and warrants, that could drive the stock down, even if it performs well. During the past 12 months, the company has issued common stock worth more than 1.2 billion Canadian dollars.Jan 17, 2022
How high can sundial growers go?
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
How much cash does sundial growers have?
$721.7 millionIt grew its cash from $47.5 million as of December 2020 to $721.7 million in March 2021 (an increase of more than 1,422%). With no outstanding long-term debt but only $49.8 million in current liabilities, we can understand why Sundial is comfortable making this acquisition.Mar 21, 2022
How much is Sundial stock up in 2021?
So what. Sundial's shares are up a staggering 555% so far in 2021. The marijuana company has become a trendy investment among traders on Reddit and other social media sites. In recent days, Sundial has seen a surge in call option volumes.
Is Sundial debt free?
Sundial has used the steep rise in its stock price as an opportunity to strengthen its balance sheet. Following its recent share offerings, Sundial is now debt-free and cash-rich, with roughly $615 million in unrestricted reserves.
Is Sundial a profitable company?
Investors should note that Sundial is not yet profitable. However, the pot producer has reduced its cash burn rate by slashing costs and focusing its efforts on higher-margin premium cannabis products. CEO Zach George says this strategy has the weed maker on the "verge of profitability.".
What happened
Shares of Sundial Growers ( SNDL 1.93% ) soared on Wednesday in volatile trading. As of 3:15 p.m. EST, the popular marijuana stock's price was up more than 45%, after rising as much as 126.4% earlier in the day.
So what
There is no fundamental reason why Sundial's stock price more than doubled this morning. The cannabis company didn't issue a press release or make any major announcements today. Instead, the likely culprit for today's massive price swings in Sundial's shares appears to be an attempt at a short squeeze.
NASDAQ: SNDL
By rapidly driving up their share prices, these traders hope to force short-sellers to exit their positions, which requires them to buy back the shares they sold short. This forced selling on the part of short-sellers can accelerate a rise in a stock's price.
Now what
After successfully igniting short squeezes in companies like GameStop and AMC Entertainment in recent days, these traders appear to have moved on to other companies.
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