SNDL Stock Forecast: Sundial Growers expands its market and looks ahead to 2022

  • NASDAQ: SNDL found support heading into the Thanksgiving long weekend.
  • Sundial Growers is expanding into other markets, which is a good thing for investors.
  • German Cannabis companies surge on Thursday in the European markets.

NASDAQ: SNDL has certainly had a year to remember for investors and the company itself. Shares of Sundial are up over 22% year to date, and an impressive 83% over the past 52-weeks. Such is life for penny stocks which often see wild volatility and massive swings in either direction. Sundial had a stint as one of the top meme stocks for social media traders earlier in the year. This coincided with a moonshot to an all-time high price of $3.96. Since then, shares have tumbled back to Earth, as Sundial has not traded above $1.00 since mid-June. Sundial halted its recent fall on Wednesday as the stock found support under its key 50-day moving average price, which could be a bullish sign for the short-term.

Stay up to speed with hot stocks' news!

The Canadian cannabis industry has not been as lucrative as investors first believed when the country legalized the drug back in 2018. Indeed, the market has been oversaturated with competition which explains why we have seen so much consolidation up North over the past couple of years. Sundial obviously has some plans for expansion as it recently acquired Canadian liquor retailer Alcanna for a price of $364 million in Sundial stock. Perhaps expanding its market will provide Sundial with a nice boost to its revenues moving forward. 

SNDL stock news

SNDL Stock

While U.S. markets were closed on Thursday for the Thanksgiving holidays, German cannabis companies were surging on the European markets. The move comes off the news that the new government coalition in power will be looking to legalize cannabis for adult usage in the near future.

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.


GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.


Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!