SNDL Stock News: Sundial Growers jumps higher as cannabis sector rises
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UNLOCK OFFER- NASDAQ:SNDL gained 5.26% during Thursday’s trading session.
- Cannabis stocks soar higher for the strongest session of the week.
- The new Climb Act is set to provide cannabis companies with much needed funding.
NASDAQ:SNDL looks like it could be forming a near-term bottom on its chart as the stock strings together a positive trading week. On Thursday, shares of SNDL added 5.26% and closed the trading session at $0.37. While stocks looked to be having a shaky start to the day, all three major indices soared higher into the closing bell to erase any losses from the previous day. The Dow Jones gained 194 basis points, the S&P 500 rose by 0.95%, and the NASDAQ led the way with a 1.62% rise during the session.
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Cannabis stocks had a surprisingly strong day as most major Canadian cannabis companies closed well in the green. Aside from Sundial, domestic rivals like Tilray (NASDAQ:TLRY), Aurora Cannabis (NASDAQ:ACB), and Canopy Growth (NASDAQ:CGC) all gained at least 7.0%, with Tilray posting an 11.53% gain. It’s been a difficult year for most of the companies in the sector, and recent staffing cuts and facility closures have added to the bearishness surrounding the industry. While Thursday was a positive move for the sector, all of the above mentioned stocks are still down significantly since the start of the year.
Sundial stock forecast
A new bi-partisan bill was submitted on Thursday called the CLIMB Act or the Capital Lending and Investment for Marijuana Businesses Act. This bill is looking to provide funding for cannabis companies that are struggling to stay afloat in this turbulent economy. Most investors will be aware of the still pending MORE Act which is awaiting a vote in the Senate for federal legalization in the United States.
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- NASDAQ:SNDL gained 5.26% during Thursday’s trading session.
- Cannabis stocks soar higher for the strongest session of the week.
- The new Climb Act is set to provide cannabis companies with much needed funding.
NASDAQ:SNDL looks like it could be forming a near-term bottom on its chart as the stock strings together a positive trading week. On Thursday, shares of SNDL added 5.26% and closed the trading session at $0.37. While stocks looked to be having a shaky start to the day, all three major indices soared higher into the closing bell to erase any losses from the previous day. The Dow Jones gained 194 basis points, the S&P 500 rose by 0.95%, and the NASDAQ led the way with a 1.62% rise during the session.
Stay up to speed with hot stocks' news!
Cannabis stocks had a surprisingly strong day as most major Canadian cannabis companies closed well in the green. Aside from Sundial, domestic rivals like Tilray (NASDAQ:TLRY), Aurora Cannabis (NASDAQ:ACB), and Canopy Growth (NASDAQ:CGC) all gained at least 7.0%, with Tilray posting an 11.53% gain. It’s been a difficult year for most of the companies in the sector, and recent staffing cuts and facility closures have added to the bearishness surrounding the industry. While Thursday was a positive move for the sector, all of the above mentioned stocks are still down significantly since the start of the year.
Sundial stock forecast
A new bi-partisan bill was submitted on Thursday called the CLIMB Act or the Capital Lending and Investment for Marijuana Businesses Act. This bill is looking to provide funding for cannabis companies that are struggling to stay afloat in this turbulent economy. Most investors will be aware of the still pending MORE Act which is awaiting a vote in the Senate for federal legalization in the United States.
Like this article? Help us with some feedback by answering this survey:
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