• NASDAQ:SNDL posted a 0.48% loss over the past five trading sessions.
  • Sundial is entering a bid for the acquisition of Zenabis Global.
  • Sundial could be looking to open its warchest to grow through acquisitions.

NASDAQ:SNDL managed to reclaim the $0.30 price level at the end of last week but the stock still posted a loss for the previous five trading sessions. Sundial has struggled this year, posting a 49% loss in 2022 and remains in jeopardy of being delisted from the NASDAQ exchange after falling below the $1.00 price level. Rumors of a reverse split have not helped the stock, which finds itself out of favor with even the meme stock crowd. With a short interest of just 9.14%, it doesn’t seem like even a short squeeze will be able to push Sundial back over $1.00.


Stay up to speed with hot stocks' news!


Over the weekend, Sundial emerged as a potential candidate to acquire the Zenabis Group, which is a subsidiary of Quebec-based company Hexo (NASDAQ:HEXO). Sundial made an application to make a stalking horse bid, which is a bid to acquire the assets and resources of a bankrupt entity. Hexo recently sold a stake of its company to Canadian cannabis giant Tilray (NASDAQ:TLRY). The Zenabis assets would include a grow facility in New Brunswick which produces over 46,000 kilograms of dried cannabis per year.

Sundial stock forecast

SNDL Stock

Sundial could finally be making use of its warchest of cash to make more acquisitions within the industry. Earlier this year, Sundial closed on its acquisition of Canadian liquor distributor, Alcanna, which should reap benefits for Sundial as early as this next quarter. With no debt on its balance sheet, Sundial is in a fortunate position to be able to make acquisitions, and it looks like Zenabis is the company’s first target following the close of the Alcanna deal.


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. 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 Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD stays below 0.9800 after US inflation data

EUR/USD stays below 0.9800 after US inflation data

EUR/USD continues to trade in negative territory below 0.9800 in the American session on Friday. The data from the US showed that the annual PCE inflation declined to 6.2% in August but the stronger-than-expected core reading didn't allow the pair to gain traction.

EUR/USD News

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD fell to a fresh daily low below 1.1030 but managed to reverse its direction and climbed above 1.1100 during the American trading hours on Friday. The pair remains on track to snap a two-week losing streak despite having suffered heavy losses earlier in the week.

GBP/USD News

Gold extends daily rally beyond $1,670

Gold extends daily rally beyond $1,670

Gold preserved its bullish momentum and rose above $1,670 after the mixed inflation data from the US on Friday. The benchmark 10-year yield is down more than 2% as markets look to wrap up the third quarter, fueling XAU/USD's daily rally. 

Gold News

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shytoshi Kusama, the project lead for Shiba Inu, has dropped a teaser about Shiba Eternity games for the SHIB community. Proponents expect the launch of the collectible card game to be a bullish catalyst for Shiba Inu price. 

Read more

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

Equity markets remain at the precipice of a technical collapse, which we examine in the weekly long-term chart below. The overall picture remains one of nervousness ahead of the upcoming Q3 earnings season.

Read more

Forex MAJORS

Cryptocurrencies

Signatures