SNDL Stock Forecast: Sundial Growers sinks lower as investors digest recent earnings
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NASDAQ:SNDL fell by 3.44% during Monday’s trading session.
- Sundial reported mixed earnings and is threatened by delisting or a reverse stock split.
- Sundial still has zero debt and a large war chest of cash.
NASDAQ:SNDL fell further towards zero on Monday as the once popular meme stock has lost nearly all of the wind in its sails. Shares of SNDL fell a further 3.44% and closed the first trading day of the week at $0.40. The broader markets bounced back during the session as stocks attempted to recover from another sharp sell off last week, the seventh consecutive losing week for all three major indices. The Dow Jones gained 618 basis points, the S&P 500 added 1.86%, and the NASDAQ rose by 1.59% during Monday trading.
Stay up to speed with hot stocks' news!
Last week Sundial reported its Q1 2022 earnings after reporting its delayed Q4 2021 earnings just several weeks earlier. Nothing from the report really moved the needle for Sundial investors, and a sharp decline in cannabis sales for the company illustrate how a pivot to higher end products has been unsuccessful. What’s more, Sundial has now traded below $1.00 per share for most of the year and has far exceeded the minimum threshold of the NASDAQ requirements. The company is now threatened by being delisted from the NASDAQ entirely or undergoing a reverse stock split to get the price back over $1.00.
Sundial stock price
Sundial investors do have solace in the fact that the company is still in an advantageous financial situation. Sundial has zero debt on its balance sheets and still has a warchest of more than $422 million to spend on investments. The company just closed a deal to acquire liquor distributor, Alcanna, earlier this year.
Like this article? Help us with some feedback by answering this survey:
- NASDAQ:SNDL fell by 3.44% during Monday’s trading session.
- Sundial reported mixed earnings and is threatened by delisting or a reverse stock split.
- Sundial still has zero debt and a large war chest of cash.
NASDAQ:SNDL fell further towards zero on Monday as the once popular meme stock has lost nearly all of the wind in its sails. Shares of SNDL fell a further 3.44% and closed the first trading day of the week at $0.40. The broader markets bounced back during the session as stocks attempted to recover from another sharp sell off last week, the seventh consecutive losing week for all three major indices. The Dow Jones gained 618 basis points, the S&P 500 added 1.86%, and the NASDAQ rose by 1.59% during Monday trading.
Stay up to speed with hot stocks' news!
Last week Sundial reported its Q1 2022 earnings after reporting its delayed Q4 2021 earnings just several weeks earlier. Nothing from the report really moved the needle for Sundial investors, and a sharp decline in cannabis sales for the company illustrate how a pivot to higher end products has been unsuccessful. What’s more, Sundial has now traded below $1.00 per share for most of the year and has far exceeded the minimum threshold of the NASDAQ requirements. The company is now threatened by being delisted from the NASDAQ entirely or undergoing a reverse stock split to get the price back over $1.00.
Sundial stock price
Sundial investors do have solace in the fact that the company is still in an advantageous financial situation. Sundial has zero debt on its balance sheets and still has a warchest of more than $422 million to spend on investments. The company just closed a deal to acquire liquor distributor, Alcanna, earlier this year.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.