SNDL Stock News: Sundial Growers advances Wednesday in contrast to major indices
- NASDAQ:SNDL gained 1.15% during Tuesday’s trading session.
- Sundial remains in the good graces of Wall Street analysts.
- Tilray releases a new sleep-oriented CBN night oil in Canada.
UPDATE: Sundial Growers stock is up 0.6% $0.3821 on Wednesday morning despite all three major indices trading flat to down. After opening at $0.3770, SNDL climbed to an intra-session high of $38.90 before dropping suddenly to a session low of $0.3756 before recovering above 38 cents. 27 put contracts with a $0.50 strike price were sold for 13 cents in the early part of the session.
NASDAQ:SNDL snapped its recent losing streak on Tuesday and eked out a small gain during another bullish session for the US markets. Shares of SNDL gained 1.15% and closed the trading day at $0.38. Stocks were on the rise again on Tuesday as ten-year treasury bond yields dipped back below 3.0%. All three major indices closed higher for the second straight day, as investors shrugged off a midday dip to close the session strong. The Dow Jones rose by 264 basis points, while the S&P 500 and NASDAQ gained 0.95% and 0.94% respectively during the session.
Stay up to speed with hot stocks' news!
As poorly as Sundial’s stock has performed so far this year, Wall Street analysts still remain optimistic on the stock. Shares are down by 38.7% so far in 2022 and Sundial is in serious danger of being delisted or having to undergo a reverse stock split to stay listed on the NASDAQ exchange. Even stil, according to TipRanks, Sundial has one buy rating and three hold ratings as well as a median price target of $0.60. This shows the stock has nearly 60% upside from Tuesday’s price, although this still wouldn’t be enough to push shares over $1.00 to remain on the NASDAQ.
Sundial stock forecast
One of Sundial’s domestic rivals, Tilray (NASDAQ:TLRY), continues to push out new products despite having a disappointing quarter earlier this year. The brand has released a new CBN, or cannabinol, night-time oil for Canadian users. CBN is similar to CBD but CBN still has the potential to contain some psychoactive properties from its THC source. Shares of Tilray were up by 1.77% during Tuesday’s session.
Like this article? Help us with some feedback by answering this survey:
Premium
You have reached your limit of 3 free articles for this month.
Start your subscription and get access to all our original articles.
Author
Stocks Reporter
FXStreet
