Home Equities Score Sundial Growers Inc. (SNDL) stock rises during pre-market session. Here are some...

Sundial Growers Inc. (SNDL) stock rises during pre-market session. Here are some facts

Sundial Growers Inc. (NASDAQ: SNDL) stock declined by 1.43% at the last close whereas the SNDL stock price gains by 4.13% in the pre-market trading session. Sundial is a publicly traded company, with its Common Shares trading under the symbol “SNDL” on NASDAQ. Sundial is a licensed cannabis producer with state-of-the-art indoor facilities. We stand out because of our ‘craft-at-scale’ modular growing approach, award-winning genetics, and experienced growers.

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What’s going on?

The tremendous increase of cannabis sales in North America is likely one of the reasons institutional investors were intrigued about Sundial. According to New Frontier Data, cannabis sales in the United States might reach $41.5 billion by 2025. Meanwhile, BDSA, a cannabis analytics firm, predicts that Canadian marijuana sales would more than treble to almost $6 billion by 2026. Legalization chances in the United States are likewise greater than they’ve ever been.

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Sundial’s massive cash hoard of 1.08 billion Canadian dollars ($895 million US) might also be a factor. Sundial’s financial position might allow them to operate as a cannabis-focused special purpose acquisition company (SPAC).

But,

Sundial has been nothing short of a train catastrophe as an investment, which makes this decision all the more remarkable. SNDL has diluted its stockholders into oblivion in order to develop its mountain of revenue. More than 1.35 billion shares have been sold since the end of September, with more on the way. There’s also no plan in place for how management will spend the money.

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Furthermore, SNDL’s real marijuana cultivation and retail operations have been nothing short of a disaster. In the first quarter, gross cannabis income fell 30% to CA$11.7 million, despite an increase in Canadian pot sales. Therefore it is considered as one of the riskiest stock to buy.

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