SNDL Stock Forecast: Sundial Growers needs a significant rebound to remain listed on the NASDAQ
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UPGRADE- NASDAQ:SNDL has fallen by 46.3% in the first half of 2022.
- Sundial is granted another extension to remain listed on the NASDAQ exchange.
- Canopy Growth receives another downgrade as Canaccord slashes its price target.
NASDAQ:SNDL has certainly seen better days as investors are likely fondly looking back at the meme stock craze of 2021. Since then, it’s been more or less a straight line down for Sundial, as shares have fallen by 46.3% in 2022 and 62.6% over the past 52-weeks. The cannabis industry in general has been one of the hardest hit sectors, and with no sign of a US Federal legalization vote passing in the Senate, it’s hard to be bullish for these stocks right now.
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Sundial was granted another extension by the NASDAQ to remain listed on the exchange. This extension is good through August 8th, which gives the company just over a month to get its stock price back over $1.00. The stock hasn’t closed over $1.00 per share since June of 2021. Sundial might need to have shareholders vote on a reverse split to remain listed. Reverse splits are often seen as a bearish sign that the company is struggling. Oddly enough, Sundial is sitting at a fairly strong financial position, and is actively looking for more acquisition targets. The company recently made a stalking horse bid for the assets of the now bankrupt Zenabis which is a subsidiary of Hexo (NASDAQ:HEXO).
Sundial stock price
One of Sundial’s domestic rivals, Canopy Growth (NASDAQ:CGC) received another downgrade from Canadian investment firm Canaccord. The price downgrade is for Canopy’s Canadian stock which traded under the ticker symbol TSE:WEED. Canaccord reiterated its Sell rating for the stock and slashed its 12-month price target from $4.50 to $3.50.
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- NASDAQ:SNDL has fallen by 46.3% in the first half of 2022.
- Sundial is granted another extension to remain listed on the NASDAQ exchange.
- Canopy Growth receives another downgrade as Canaccord slashes its price target.
NASDAQ:SNDL has certainly seen better days as investors are likely fondly looking back at the meme stock craze of 2021. Since then, it’s been more or less a straight line down for Sundial, as shares have fallen by 46.3% in 2022 and 62.6% over the past 52-weeks. The cannabis industry in general has been one of the hardest hit sectors, and with no sign of a US Federal legalization vote passing in the Senate, it’s hard to be bullish for these stocks right now.
Stay up to speed with hot stocks' news!
Sundial was granted another extension by the NASDAQ to remain listed on the exchange. This extension is good through August 8th, which gives the company just over a month to get its stock price back over $1.00. The stock hasn’t closed over $1.00 per share since June of 2021. Sundial might need to have shareholders vote on a reverse split to remain listed. Reverse splits are often seen as a bearish sign that the company is struggling. Oddly enough, Sundial is sitting at a fairly strong financial position, and is actively looking for more acquisition targets. The company recently made a stalking horse bid for the assets of the now bankrupt Zenabis which is a subsidiary of Hexo (NASDAQ:HEXO).
Sundial stock price
One of Sundial’s domestic rivals, Canopy Growth (NASDAQ:CGC) received another downgrade from Canadian investment firm Canaccord. The price downgrade is for Canopy’s Canadian stock which traded under the ticker symbol TSE:WEED. Canaccord reiterated its Sell rating for the stock and slashed its 12-month price target from $4.50 to $3.50.
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