SNDL Stock Forecast: Sundial Growers continues decline despite positive earnings report

NASDAQ:SNDL fell by 5.65% during Monday’s trading session.
Sundial looks to repurchase shares to decrease shareholder dilution.
Uber jumps into the Canadian Cannabis industry.

Stocks Reporter FXStreet

NASDAQ:SNDL extended its decline to start the week on Monday after seeing its stock price fall for most of last week as well. Shares of SNDL fell a further 5.65% on Monday to close the trading session at $0.69. The move lower came on a day where some growth sectors were hammered by the markets. The NASDAQ tumbled by 1.26% as 10-year treasury bond yields rose and it was announced that President Biden has selected Fed Chairman Jerome Powell for a second term. Investors have been forecasting a pullback in the markets as the Federal Reserve begins to implement its tapering policies as we head into 2022.

Stay up to speed with hot stocks' news!

Sundial Growers has long been seen as a meme stock as it rose to fame as one of the most talked about stocks on r/WallStreetBets. The company took advantage of the surging stock price earlier this year as it made several stock offerings in order to raise capital. Well, now the company is buying back $100 million CAD in shares in an attempt to raise its stock price once again. It might take more than that though as Sundial currently has an outstanding share float of over 1.6 billion shares which shows just how much the stock has been diluted.

SNDL stock news

In other Canadian cannabis industry news, ride hailing service Uber (NYSE:UBER) is teaming up with companies to make their products available. Customers will be able to order Tokyo Smoke products on the UberEats app, although currently delivery has not yet been implemented. Customers will be able to pick their order up in store once they have placed their order. While Sundial hasn’t yet been added, it is good news for all cannabis companies to allow customers greater access to their products.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

AUD/USD eyes 0.7150 barrier nine-day EMA

AUD/USD inches higher after registering modest losses in the previous day, trading around 0.7130 during the Asian hours. The technical analysis of the daily chart indicates that the pair is moving sideways within the rectangle pattern, suggesting a consolidation as neither the bulls nor the bears have enough momentum to take control of the market.

USD/JPY trades below 160.00 intervention threshold; bullish bias intact

The USD/JPY pair attracts some sellers during the Asian session amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, the Israel-Lebanon truce prompts some profit-taking around the US Dollar and exerts downward pressure on the currency pair.

Gold defends 200-day SMA at $4,425, but for how long?

Gold is attempting a tepid recovery toward $4,500 early Thursday, as renewed optimism in the Mideast geopolitical front calms market nerves. This cautious optimism across Asian markets weighs on Oil prices, and diminishes the US Dollar’s safe-haven appeal, helping Gold stage a decent comeback from the weekly low of $4,424.

Hyperliquid: ETF demand, capital rotation fuel HYPE rally as Bitcoin melts

Hyperliquid price sustains an upward trend near its all-time high of $75.76 on Thursday after posting 80% gains in May, while Bitcoin (BTC) retraces below $65,000, triggering a market-wide panic.

Kevin Warsh takes the Fed helm: What it means for the US Dollar

The Federal Reserve moves away from the highly predictable "forward guidance" model of the Jerome Powell era to a new “Kevin Warsh environment”, characterized by less communication, more policy surprises, and an increased focus on the Fed's complex balance sheet.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.